Thursday, May 1, 2008

Memo To BO'R

I'm not a viewer of Bill O'Reilly's TV show. The last time I watched it was in the summer of 2001 when he seemed unduly alarmed about shark attacks somewhere and the disappearance of Chandra Levy in Washington DC. It was a more innocent time way back then. This morning, however, I saw a clip from his interview with Hillary! (TM). The topic of the snippet was the federal tax rate for individuals. He was questioning her on her plan for raising the top rate from 33% to 39% and she, of course, said she would do that because it's fair or some other socialist blather. (I have a hard time listening to leftists, I admit. It's all just the same old boilerplate Communism-on-the-cheap to me.) The point is that BO'R then said, "So you're gonna raise my taxes 6 per cent?" And then he shrugged. And moved on.

Memo to The Factor. Hiking a tax rate from 33-39% is NOT an increase of 6% it is an increase of more than 18%. The Factor Man might not care about a tax increase of 6%, although many in that tax bracket certainly would, but he might care a bit more about a personal tax hike of 18+%. I don't even want to know if he talked to her about taking cap gains rates from 15% to 20%. He probably thinks that's a 5% increase instead of a 33% tax hike. Oh, and taking cap gains up to the new top rate under Hillary! would be an increase of more than 250%. That, no doubt, sounds "fair" to Karl Marx-in-a-pink-pantsuit.