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10/09/2004

 

We've heard it all before


From the 1992 First Presidential Debate [transcript]:


[Governor Bill] CLINTON: The tax increase I have proposed triggers in at family incomes of $200,000 and above. Those are the people who in the 1980s had their incomes go up while their taxes went down. Middle-class people, defined as people with incomes of $52,000 and down, had their incomes go down while their taxes went up in the Reagan-Bush years because of 6 increases in the payroll taxes. So that is where my income limit would trigger.

[ABC News personality Ann] COMPTON: There will be no tax increases--

CLINTON: Right. My plan -

COMPTON: --below 200,000—

CLINTON: --notwithstanding my opponent's ad, my plan triggers in at gross incomes, family incomes of $200,000 and above. Then we want to give modest middle-class tax relief to restore some fairness."



When Clinton took office, he announced to the country that the economy was worse than he had been led to believe when he made that promise, and that all bets were off. He then raised everyone's taxes on one vote in the House of Representatives: that of former Congressman Marjorie Margolies-Mezvinsky (R-Pennsylvania), who then lost her next election. She tried to run for several offices as a Democrat but was defeated.

Kerry's tax increase for those earning $200,000+, with the middle class cut, was Clinton's idea a dozen years ago, not adjusted for inflation, and it means as much now as Clinton's campaign promise did then.

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