Thursday, September 18, 2008

Biden said what?

Oh, yeah, that paying higher taxes is patriotic. I shit you not.

The money quote, for those of you who might not be able to get the clip:
Democratic vice presidential candidate Joe Biden says that paying higher taxes is the patriotic thing to do for wealthier Americans. …

Biden told ABC’s “Good Morning America” on Thursday that, in his words, “it’s time to be patriotic … time to jump in, time to be part of the deal, time to help get America out of the rut.”

Which would lead me to ask if he's paying higher taxes? I mean, if it's patriotic, then is he doing it? If it's such a good idea, why hasn't he paid extra money into the Treasury? Or is he just another politico hypocrite?

So, now the question becomes... Now that Biden has come out in favor of higher taxes.. (I know it's slated for the rich, but they're higher taxes) is Obama going to admit that he intends to raise taxes?

The larger question is whether or not Biden links the current credit meltdown with taxes for the wealthy? It seems the answer is yes.
We should try to correct the problems that caused this. And what’s caused this? The profligate tax cuts to the very, very wealthy that John wants to continue. What’s caused this is the failure to have regulation so that, in fact — John talks about these CEOs getting these big bailout packages.
Lots of folks are trying to analyze and explain the current meltdown, but no one with any sense has linked CEO salaries and severance packages to our financial troubles. As I see this crisis, it's about securities that are over-valued in the current market, trading those securities on margin, having securities on the books that aren't linked to current assets and the market devaluing those securities and the banks that hold them. Our problems today are a lot more about judgment than salaries.

Biden is a nitwit. He and Helmke should start the Washington Chapter of Nitwits Inc.

1 comment:

Anonymous said...

The real nitwit was GWB when he gave billions in tax cuts to billionaires during a time of war. We now don't have the money to fight a two front war, and therein lies the root of today's financial problems. I think future historians will call GWB's tax cut the dumbest thing a sitting president ever did.