Common Sense

Why Raise Taxes Now?

Citigroup tanking — its CEO walking.

The Federal Reserve frantically cutting rates one day — adding a ton of cash to calm nerves the next day.

Amidst all that, this: Talk of tax hikes.

Serious talk in serious times.

Never mind the fact I don't believe the mortgage mess is remotely the "meltdown" it's been portrayed in Washington.

Washington says it is. And congressional Democrats and more than a few presidential candidates insist it is.

So let's assume they're right — it's a crisis.

Again, I don't buy that. They do.

So what do they do? What do they "want" to do?

Raise taxes.

Under the guise of fixing the alternative minimum tax, top Democrats are considering one heck of a hike of a tax. And not just on the super rich. But on those who wouldn't consider themselves remotely rich.

A more than 4 percent surcharge on incomes as low as $150,000... and I suspect that's a moving target, since last year at this time, the only ones top Democrats were targeting were millionaires.

Now "if" you think the economy's slowing and "if" you think more brokerage houses and banks are hiccupping and "if" you think more mortgages are swooning, do you really want to be raising taxes on anyone?

Apparently some do.

Ignorant of the fact the ox you gore today will be the economy you bloody tomorrow.

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