There is a spirited debate about the upcoming expiration of the Bush tax cuts, and Barack Obama and the Congressional Democrats have brought out their usual arguments with new vigor and creativity: "The Deficit," class warfare, income redistribution. Here, Obama and the Democrats are demonizing "The Rich" and targeting them for higher taxes in what can only be called an act of economic bigotry. For reasons known only to the Democrats, they appear determined to repeat their "stimulus" mistakes since January 20, 2009, ignoring at least 100 years of economic history of what works and, more importantly, what does not work to get the economy growing.
According to the Democrats' plan, economic growth was to have started by now, triggered by their Keynesian stimulus, actually payoffs to key constituencies using taxpayers' money. Then, the Bush tax cuts which the Democrats have always despised, could be allowed to expire quietly. Unfortunately, reality intruded, and raising tax rates back to Clinton levels would make a bad economic situation worse. The Democrats' solution is to single out the "The Rich" for higher taxes for the "offense" of having wealth and the perception that "The Rich" can afford it. In this economic context, as with all forms of bigotry, many of the same dynamics are in play: ignorance, seeking economic short cuts, instigating animosity among groups of Americans, arbitrarily favoring some groups over others, and arbitrarily taking wealth from one group and giving it to another. In a word, Democrat-sponsored bigotry. (See 9/21/2010 post - Democrat Strategy: Divide Americans Into Classes)
All Americans, including "The Rich," need to come together to get the economy back on track, The Democrat tactic of dividing Americans into classes and demonizing "The Rich" is not helpful. When candidates ask you for your vote, be sure they support all Americans coming together to get the economy back on track.