RNC: Why Not Blame Obama?

The following is an Op-Ed piece by Lawrence Kudlow for Real Clear Politics and is being distributed by the Republican National Committee:

[D]uring the debate, Obama bungled his answers on tax policy, big time. Period. End of sentence. End of story. To my liberal friends in the media, all I can say is: Get over it. Your guy has a very poor grasp of basic economic principles.

First off, you don't raise taxes during a recession. That's a no-brainer. Second, doubling the capital-gains tax rate will affect Americans up and down the income ladder, not just rich hedge-fund managers. In addition, capital-gains tax cuts are self-financing, and they stimulate jobs and the economy. You want to raise budget revenues and spark economic growth? Cut the cap-gains tax rate. That's what history shows. ...

Obama also proposed uncapping the payroll tax, another blunder that will hit people up and down the income ladder. While Obama pledges tax hikes only for folks earning more that $200,000 a year, his tax hike on payrolls would actually slam middle-income earners. The cap on wages subject to the payroll tax is presently $102,000. By eliminating that cap Obama will be soaking veteran firemen, cops, teachers, and health-service workers, along with a variety of other occupations.

In fact, in America's largest cities, a firefighter married to a school teacher can earn close to $200,000 filing jointly. So not only will each spouse separately pay more for Social Security and health care under Obama's plan, together they'll also be slammed by Obama's cap-gains tax increase. ...

Obama's real agenda is far-liberal left. It's an ideology that places income redistribution above economic growth. That's his real message. And it's the same one that sunk Carter, Mondale, Dukakis, Gore, and Kerry. ...

What I'm saying is that liberals need to quit blaming Charlie Gibson and George Stephanopoulos for Obama's shortcomings. Instead, they need to blame Obama for failing to grasp how tax penalties on upward mobility will hurt the very people he thinks he's going to help. ...

That's exactly why wealth-redistribution plans always backfire. Robbing Peter to pay Paul is a surefire economic loser. So is putting government in charge of the economy, which is what Mr. Obama is proselytizing. ...

Did someone say inexperience?

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