Open That Wallet

It must feel great spending ten thousand dollars to attend a fundraiser only to be told that you aren’t paying enough.

Hillary Clinton told several hundred supporters — some of whom had ponied up as much as $10,000 to attend — to expect to lose some of the tax cuts passed by President Bush if Democrats win the White House and control of Congress.

I’ll give her credit for being honest and direct, two rare things for a high-profile politician. If only that were reason enough to vote for someone.

“Many of you are well enough off that … the tax cuts may have helped you,” Sen. Clinton said. “We’re saying that for America to get back on track, we’re probably going to cut that short and not give it to you. We’re going to take things away from you on behalf of the common good.”

The common good. That sounds familiar… now where have I heard that before? Oh, right–the Kremlin. “From each according to his gifts, to each according to his need”. Too bad she didn’t explain how raising taxes on job creators and redistributing wealth to those who don’t have jobs at all (or at the very least are not contributing to the tax base) is going to ‘get America back on track’, whatever that means.

If the ‘track’ she’s referring to is job creation, why not make it possible for more jobs to be created? Or am I being too radical here? If she wants to get the budget back on track, perhaps she could vie for the spending cuts that are so desperately needed instead of asking for our collective wallets. Spending cuts are something she will never agree to, though. The reason? Look at this chart on Federal spending from the House Policy Committee:

Federal spending

Social spending comprises nearly 3/5ths of the budget. There’s no way to make significant spending cuts without looking at where the majority of the money goes. For a die-hard like Senator Clinton, that means there is but one way to close the gap: raise taxes.

I don’t know how you reason with a person like that. But since politics is art of compromise, if I were in the Senate I’d make her a deal: for each dollar that’s cut from the budget, you can reduce the tax cuts by a dollar until it’s balanced. After that, any tax incrases are matched by a dollar-for-dollar decrease in Congressional salaries and office budgets.

If you want us to open our wallets any wider, Senator, you’d better be ready to open yours.