"We need a more progressive tax code — not confiscatory policy. Not socialism. A tax code." -VP Biden #wef16
— VP Biden (Archived) (@VP44) January 20, 2016
The comments seem to be a shot at Democratic presidential candidate Bernie Sanders.
CK MacLeod
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Looks like Hillary has promised Biden the VP slot in order to court the Onion reader demographic.Report
Politics aside, does it matter that Biden is absolutely right about this?Report
Sanders isn’t arguing for state control of the means of production though. At least not for the moment.Report
I am talking specifically about the tax code. I’m sure that it’s lots of fun to rail against big companies that keep their revenue offshore to keep from paying higher taxes, but they are just making a rational decision to do everything within the law to reduce their tax bill. The same thing that just about every private citizen does (I am sure that there is some minority of people who don’t claim deductions so that they can increase the amount that they give to the government).
If what you really want, though, is to maximize the effective level of tax collection, then reforming the tax codes is a pretty good idea. We have very high statutory corporate tax rates, but volumes of ways to get around paying those rates. In other words, the worst of both worlds.Report
About needing a more progressive tax code? Yes, he is right 🙂Report
Progressive is one of those terms that can mean anything. I prefer to talk specifics. Lower the statutory corporate rates and cut out the loopholes.
On personal taxes, I’d be all for raising the highest marginal rates, but I’d like to know that my money isn’t just going to unsustainable middle-class transfer programs and a bloated defense budget, which now account for about 80% of the total federal budget. Cut the Pentagon’s budget and show me targeted and effective anti-poverty programs and I will happily pay higher taxes.
Show me the mainstream politician willing to do that and I’ll vote for him no matter what the letter after his name is. I’ll buy the unicorn he’s riding, as well.Report
Obama’s working on the “unsustainable middle-class transfer programs” (by which I know you mean Medicaid and not SS). And I think he’s cut some of the defense budget (probably not some of the congressional sacred cows…)…Report
One man’s progressive tax code is another man’s confiscatory policy. So I find his comment puzzling, unless he’s referring to breaking up the banks in which case count me on Team Sanders.Report
On a more serious note, this. Many people define any sort of liberal or progressive legislation or regulation as socialism and hate it.Report
Oh there’s more to this than just a tweet. I expect that there might be a bit of coordination between the HRC camp for some anti Sanders “news”.
http://nypost.com/2016/01/16/dont-be-fooled-by-bernie-sanders-hes-a-diehard-communist/
“For starters, he proposes completely nationalizing our health care system and putting private health insurance and drug companies “out of business.” He also wants to break up “big banks” and control the energy industry, while providing “free” college tuition, a “living wage” and guaranteed homeownership and jobs through massive public works projects. Price tag: $18 trillion.
Who will pay for it all? You will. Sanders plans to not only soak the rich with a 90 percent-plus tax rate, while charging Wall Street a “speculation tax,” but hit every American with a “global-warming tax.””Report
I kinda love the fact that the New York Post is calling a major U.S. politician a “commie” – so nostalgic! – though I’d hesitate to add that article as an independent “Linkage” item until and unless everyone understands the spirit in which Trumwill and I – and potentially others – mean to present them. The same consideration is preventing me from posting a very useful and informative piece from an admitted Alt-Rightist about what the Alt-Right really is.Report
Share the link!Report
…well, the A/R guy also says “compliment” when he means “complement,” and I wouldn’t to be accused of spreading that infection, too.
I’ll dig it up and post it in comment-thread quarantine.Report
Think I found a better way to add it to the list: https://ordinary-times.com/blog/2016/01/22/cathyyoung63-re-alt-right/Report
a very useful and informative piece from an admitted Alt-Rightist about what the Alt-Right really is.
Well, it did just enter the public domain.Report