Biden Thinks Paying Taxes Is Patriotic

Amen

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Obama:

Sen. Barack Obama shed new light on his economic plans for the country, saying he would rely on a heavy dose of government spending to spur growth, use the tax code to narrow the widening gap between winners and losers in the U.S. economy, and possibly back a reduction in corporate tax rates.

In an interview with The Wall Street Journal, the Illinois Democrat said that he was trying to put together tax and spending policies that dealt with two challenges. One is the competition from rapidly growing developing countries, like India and China. The other: the U.S. becoming what he called a "winner-take-all" economy, where the gains from economic growth skew heavily toward the wealthy.

Sen. Obama cited new economic forces to explain what appears like a return to an older-style big-government Democratic platform skeptical of market forces. "Globalization and technology and automation all weaken the position of workers," he said, and a strong government hand is needed to assure that wealth is distributed more equitably. He spoke aboard his campaign bus, where a big-screen TV was tuned to the final holes of the U.S. Open golf tournament.

Bush Pays Taxes?

Something here seems funny:

President George W. Bush and first lady Laura Bush reported taxable income of $719,274 for 2007 and paid $221,635 in federal income tax, the White House said on Friday. The president's income included his salary as president and income from trusts in which his assets are held. The first lady received a $150,000 advance for a children's book she co-authored with daughter, Jenna, the White House said

Obama Proposes Tax Break for Middle-Class, Tax Increase on Rich

I like:

Democratic presidential contender Barack Obama proposed up to $85 billion in tax cuts for about 150 million Americans on Tuesday, paid for by raising capital gains and dividend taxes on wealthy investors.

Obama's tax plan, set to be announced in a speech in Washington, includes a cut of up to $1,000 for working families, a mortgage interest credit for low- and middle-income homeowners and the elimination of income taxes for seniors making less than $50,000 per year.

"To get through these uncertain times, we have to recognize that we all have a stake in one another's success," the Illinois senator said in excerpts of the speech provided by his campaign. "When folks are hurting out there on Main Street, that's not good for Wall Street."

This is very common-sense, progressive-minded and good. More like this.

Exxon Mobil Is Crying

I am smiling.

The House rolled back billions of dollars in oil industry subsidies Thursday in
what supporters hailed as a new direction in energy policy toward more renewable
fuels. Critics said the action would reduce domestic oil production and increase
reliance on imports.

And both the Democratic House and Senate are undertaking a full investigation of the energy policy, something that was not included in their first 100 hours - accomplished in under 50 - but is really necessary. The fundies can explain away the wind storms in eastern Europe, the snow in Oregon and the 70 degree weather in NY by abortions or homosexuals, but science told us otherwise a long time ago. It is time to start making decisions based upon the reality in which we live, not upon the reality in which we would like to live.

Link.