Conrad wants temporary middle class tax cuts

[ProSense]

Conrad wants temporary middle class tax cuts

by brooklynbadboy

Senate Budget Chairman Kent Conrad says he favors "fundamental tax reform" some time in the future, with a temporary Bush tax-cut extension for everyone, including the rich. Sam Stein of HuffPost has the story:

"Frankly, it makes a great deal of sense to go to tax reform," Conrad said, at an event sponsored by the fiscally conservative Peter G. Peterson Foundation. "What is really needed, I believe, is fundamental tax reform and maybe it would help incentive the movement in Congress, in the White House, towards fundamental tax reform if we were to let all the tax cuts expire... I believe in a perfect world we will go to fundamental tax reform. I have argued that both privately and publicly. I think that would be the best course."

"If I were able to make the decision, I would go for changing the tax system fundamentally and I would have an extension until that is accomplished," he added.

Conrad says that he would rather work on fundamental tax reform, which we all know will not happen this year and probably not ever. Therefore, the only significant part of this story is his position that even the tax cuts for the first $250,000 in income should be temporary rather than permanent. Sen. Ben Nelson and Sen. Evan Bayh have also come out in favor of this proposal. With President Obama calling for a permanent tax cut for the first $250k, Democrats are sending out mixed signals and adding to the uncertainty on taxes.

With Republicans speaking with one voice of no compromise, Democrats should at least be on the same page about the permanence of a new tax cut for the middle-class. Making them temporary in return for a feathery promise of future comprehensive tax reform is nothing short of full-on political retreat. That amounts to nothing less than passing the Bush tax cuts again. I can see the headline already: "Obama Extends Bush Tax Cuts."

Conrad is on to something, however: If the tax cuts were left to expire, as a growing number of voices, including those on the right, are calling for, are calling for, that would be a perfect opportunity to introduce new "Obama Permanent Middle Class Tax Cuts."

Let's see people fit that into their narratives.

[LiberalFighter]

1. When it comes to anything that Conrad or Bayh have to say.

Kent Conrad and Bayh should have a spindle stuck through him and then rotated over hot coals.

[ProSense]

2. Yes, but it shows

the range of thinking out there.

[flpoljunkie]

3. The Republicans stand together. Democrats don't seem to know who they are or what they stand for.

That's a big problem for our party's future. Too many Democrats are DINO's--not so for Republicans. They march in lockstep and know what they stand for--special interests over the public interest. Too many Democrats don't know who they stand for and are too busy looking to compete for that special interest money to fill their campaign coffers.

We need real Democrats from the 'Democratic wing' of our party.