This is going to be tricky to excerpt, so read the whole thing:
…yesterday Biden let slip that he and Obama apparently have a sliding scale to determine who’s “super-rich.”
“What we’re saying,” he told a Pennsylvania TV interviewer, “is that [our] tax break doesn’t need to go to people making . . . $1.4 million. It should go to [people] making under $150,000 a year.”
An Obama mouthpiece quickly dismissed the discrepancy as just another one of Joe the Senator’s gaffes.
But consider: The campaign has a new TV commercial out declaring that families – not individuals – earning $200,000 or less would qualify for a tax cut. Two incomes – not one.
Don’t say you weren’t warned. Look, I know that it’s nice to get free stuff and everything, but let me be blunt: don’t count on further tax cuts. In fact, no matter what happens on Tuesday: assume that they’ll be increased, whether by actively raising the rates or by the early elimination of the current Bush tax cuts that are probably going to be most noticeable by their sudden absence. We’re in a recession, we may be coming into a depression, and the current drop in crude oil prices to about half of what it was earlier in the political season pretty much eliminates even the excuse of believing that a “windfall” profit tax will generate the revenue that Obama would need for his program.
I’m actually not trying to ding Obama for this one; announcing that he’s actually going to raise everybody’s taxes would be political suicide (about as much as would be actually cutting defense spending by 25%, although I don’t know if his people have the mother-wit to recognize that), which is why he’s not doing it. He’s still going to have to come up with something comprehensive, (slow smile) something “reality-based” – current reality, not last June’s – and something that might in fact work, though, and he’s running out of time to show it to us.
Because if Joe “Gird Your Loins” Biden turns out to have not been a false prophet, the American people are not going to have a hearty chuckle over it all.