As much as I wanted to avoid it the Democratic debate was playing on every TV at the Atlanta airport. Edwards was calling for large tax increases, especially (of course) on the rich, without of course ever identifying who the rich are. Does $75,000 annual income for a family of 4 make you rich? $100,000? $200,000?

For a tax increase to have much impact you may be surprised how low that “rich” designation has to drop. Once the families listening realize they are affected the call to raise taxes will again become the campaign death knell it has always been. Tax increases on “the rich” are only palatable if “the rich” is someone else.

Edwards called to remove the ceiling on the social security tax. (Yes, Martha it is a TAX) Currently you only pay the dreaded social security tax on the first $90,000 of income. Edwards wants to eliminate the limit. Sounds fair…. But….

If the limit is raised does that mean that the payments to the higher income will be raised as well? The income taxed is now limited but so are the payments. The last thing he wants to address is paying out more federal dollars to “rich” Americans.

Social Security is so busted that you can not raise taxes enough to fix it, without driving workers into an underground economy. It will inevitably be subjected to a means test and a higher retirement age, and reduced benefits.

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