Tax Gambit

How Pelosi might save her majority.

“ We recall the Democratic Presidential debate when ABC's Charlie Gibson famously asked candidate Barack Obama why he favored higher capital gains tax rates when the evidence is that lower rates produce more tax revenue. After some back and forth, Mr. Obama's one word reply came down to "fairness." If you really believe the main job of government is to redistribute income and punish the rich for making too much money, then you don't mind raising taxes even if it costs you control of Congress. [Democrat Salvage Plan] ” This, in my opinion, misguided WSJ Editorial notes up front that Pelosi's "idea is to return to Washington in 10 days and start a debate over raising taxes only weeks before Election Day. "  Swim with the fishes Speaker Hankey. Even if Democrats do everything the article suggests [keep Reagan's tax cuts, at least temproarily], it's too late.  To borrow from M. Thatcher, "Democrats don't care how much people suffer,  just so long as the rich suffer as much, or more."