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Kerry's take on tax credits

Ignatius J.

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Art mentioned a strange feature to the democrats proposal to extend bush's tax cuts across the board, even to people who don't pay taxes. That is, they stop becoming tax cuts and become nothing but income redistribution.

Philosophically I agreed with art that this was nothing more than income redistribution, otherwise known as socialism. It seemed odd that anyone would support this, and some even asked how a rational individual could be for the system.

Last night, I was watching a bit of the televised debate among 8 or 9 democratic hopefuls and this issue came up. Kerry had the best answer by far and I figured I'd share.

We are running a defecit. In other words, the services rendered to all americans are being at least in part funded by borrowing which will need to be repaid at a later date. This money is not likely to be repaid by the current generation of americans and will instead be passed on as debt to future generations of americans. If all goes well, the money will never have to be repaid in absolute terms, however, the debt accumulated does become the responsibility of future americans. Since the debt is not on the heads of only the children of those who pay taxes now, but upon all children in america who will pay taxes later, the tax cuts are really payments to current americans from future generations. As such, everyone should be entitled to them. That the rich should get a higher share makes sense for many reasons, but to believe that the rich are getting thier own money back is naive at best and manipulative at worst.


I don't neccesarily agree with the above, and I'm curious how others feel about it. At the very least, it is an attempt at an intelligent justification for a socialist practice.

what do you guys think?


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where do you get the impression that kerry is against deficit spending? In fact most democrats are for deficit spending, if you look at thier track record. It's hard to argue that defecit spending is a bad thing since the US government has an excellent track record of not defaulting on loans. They get to borrow at super low interest rates making it just plain dumb for them to not borrow, especially in down economic years where the influx of borrowed money into the economy can get it out of a downturn.

So, his point isn't bad republicans stealing from our children (like other coandidates) merely, he is saying let's be realistic this money is coming from our children, and as such everyone has some claim to it.

Again, I'm not sure I believe him, but I think the real issues are more complicated than you have given him credit for.


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except that you don't know what all children will contribute in the future!

moreover....if you're going to carry this argument to extremes...shuld future generations pay for the increased wealth

and other external economies the current generation bequeths to the future?

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