THE BROOKLYN RAIL

Perspectives on Party Politics: part 2
Leave the World a Debtor Place
by Ray Nedzel
August/September 2003

I don’t know about you, but I sure am ready for another tax cut. A big, deep, juicy tax cut. Look at it this way, if a big tax cut was good for the economy (which obviously it has been), and another big tax cut helped stimulate the economy and create jobs (which is also clearly evident), than why not another, and another, and another.

The other day Josh Bolten, new head of the Office of Budget Management, announced, with pride, a budget for fiscal year 2004 with a 455 billion dollar deficit. His proposal, over the next five years, would add 1.9 trillion dollars of debt to America. Yet Bolten still had the supply-side-balls to say, "Restoring a balanced budget is an important priority for this administration."

I, for one, love the moxie, and think Bush is on the right track with his tax cuts, but he is being too timid. To those out there craving more tax cuts, I say, "bring ’em on." Or better yet, do away with taxes completely. GHW Bush promised "no new taxes," which GW Bush can trump by pushing for "No taxes at all."

No taxes whatsoever. Why not add in a refund check for all the taxes you paid last year? Plus a double refund if you have children, pets, friends or if you would simply like a double refund. Trickle me down, trickle me up and trickle me back down again— I know MY economy would be stimulated.

With no taxes at all, with all that money back into the economy, think of all the growth, think of all the jobs, and think of all the money in your pocket. Great Daddy War-Bucks, you’ll need new pockets. And that’s a new industry— building new money pockets— which creates more jobs, more money, more money, more money.

Oh, I hear the nay-sayers, sure I do. "With no taxes, how is Bush going to pay for the wars he loves so much?" Simple, with the deficit spending he loves so much. And with fundraising, at which Bush is king.

As mentioned, Bush’s fiscal year 2004 budget proposal has the most deficit spending since 1992, the last budget prepared by Bush 1 (which by the way was the largest deficit spending since Reagan). In fact, since 1928, four of the six largest deficit budgets have come from the team of Reagan, Bush and Bush. Well, that’s the way it is with the big spending Republicans.

But that’s not a bad thing. Reagan and Bush pushed their debt onto Clinton and he did just fine bringing it under control (typical of those damn fiscally conservative Democrats). And if the next Democrat cannot fix the debt, or if the debt becomes too high, then the federal government can just claim Chapter 11 bankruptcy. Hey, it’s working for MCI, I mean, World Com, I mean, MCI, I mean… Enron, Global Crossing, Adelphia, K-Mart, and did I mention WorldCom, which turned each dollar of debt into 11 cents. Damn, that’s nifty. Since some of our biggest corporations have benefited from bankruptcy, why shouldn’t we?

But forget about all that future pain, Bush could fix the economy by fundraising, the thing he does best.

He has, according to the Washington Post, raised more money than all nine announced Democratic candidates combined. Yes, combined. In the first three months of official fundraising, Bush raised over 34 million dollars. How’d he do it? By putting the fun back in fundraising.

Most of his money came from donors paying 1,000 dollars a plate for dinner— some of which had no dinner, some of which had no plate. That’s right, you paid 1,000 dollars per plate but you got no plate.

If it wasn’t for that damn McCain/Feingold campaign finance law limiting donations to 1K per person, he’d have more. He’s just that good.

So fixing the economy is easy. Rely on the President’s strengths of cutting taxes and deficit spending. And he could do one better and guarantee his re-election by offering his 100% tax cut, with refund, to Republicans. Only Republicans.

Everyone would change parties to get their money. The President would essentially eliminate the two-party system, put money in everyone’s pocket, and have everyone put money in his. And after all, wouldn’t we all like to get our hands in the President’s pocket?

Perspectives on Party Politics: Part 1