Since the election is in full swing, I wanted to expand my sporadic series of "Dissecting the Liberal Talking Points" and do a more specific analysis of President Obama's rhetoric. Specifically, I'd like to analyze one well repeated talking point of the President's: "We're simply asking the wealthiest among us to give up their tax cuts."
I have two issues with this attitude. First and foremost, referring to these as "tax cuts" is a fallacy. The current tax rates were passed into law in June of 2001. That means these rates have been in place now for eleven years. Compare that to the Clinton Tax Rates, passed into law in August of 1993, which stood as law for not quite eight years. Yet according to most liberals, these are the "correct" tax rates...the ones we should return to by "repealing the tax cuts." Now friends, I'm no mathematician, but seeing as how the Bush rates have been the law of the land now for eleven years, changing the rates to a higher rate cannot honestly be considered "repealing a tax cut." Rather, they must be considered raising taxes.
What makes this even more preposterous of a claim is the fact that President Obama claims that raising payroll tax rates back up to the standard 6.2% from the active holiday rate of 4.2% equates "raising taxes." Here's a shock: Obama's trying to ride two horses with one rear end. Didn't see that one coming. So, if we return tax rates to where they were a year and a half ago is "raising taxes" but returning rates to where they were ELEVEN YEARS AGO is simply "repealing a tax cut?" Raise your hand if your head hurts after that logic? (My hand is in the air.)
Fact is the tax rates are what they have been since 2001. They are the official tax rates. Any increase in taxes above those rates is not repealing a tax cut. It is raising taxes. Period.
(Monday we will deal with the second part of this falicious claim by the President.)