Now that French voters are giving him a decisive parliamentary majority, President Nicolas Sarkozy is going to launch a pro-growth, tax cutting, deregulation, reform plan.
In other words, Reaganomics finally comes to France.
Here at home, all the Democrats running for president (except New Mexico Governor Bill Richardson) want to raise personal and corporate taxes. They want to punish profits.
So, let me get this right: while Reaganomics spreads from Eastern Europe—with low flat tax plans proliferating everywhere—into Western Europe, the supply-side model still has not infiltrated the Democratic party.
And to make matters worse, House Dems are now proposing a 4.3 percent surtax on successful earners that will allegedly solve the AMT problem, but in fact, might end up hitting families making as low as $75,000 according to last Friday’s Washington Post article.
The Democrats are stuck in a punitive, soak-the-rich time warp with class warfare written all over it.
Despite all the current polls, I still believe their Walter Mondale approach to taxes and their McGovernite soft-on-the terror war approach is a losing combination that will doom the Dems next year.
They are going the wrong way.