I think today's Democratic Party news release finally boils down the last days of Sen. Blanche Lincoln's long-shot attempt to hang onto her Senate seat.
Message: John Boozman would privatize Social Security and impose a 30 percent national sales tax on everything.
These are fair points. Given every chance, Boozman refuses to promise NOT to put Social Security off-limits to private investments. He only promised not to cut benefits. Note that he hasn't promised to insure that benefits continue to INCREASE with the cost of living. And he continues to speak warmly about the so-called 23 percent national sales tax, which is really a 30 percent sales tax computed as we customarily compute sales taxes. He positively glowed at the thought of shutting down the IRS. Except the doofus apparently hasn't stopped to think about the enormous bureaucracy that will be necessary to collect and monitor jillions of taxable transactions from bubble gum to office buildings.
The Waltons currently pay an effective income tax rate of about 16 percent on their tens of millions in income, according to the IRS figures on the country's richest taxpayers. It would go to ZERO under the plan Boozman endorses. The average Arkansas family of four that spends every dime of the $40,000 they earn will pay a 30 percent rate on all their spending, less a refund on the poverty level portion of their income, or about $5,700 for a family of four. Helluva deal if you're a Walton. Not so good if you're a poor guy buying a house or car.
DEMOCRATIC PARTY NEWS RELEASE
Last night, Fox 16 aired the Senate debate that took place on Friday, September 10, at the Peabody Hotel in Little Rock. Arkansans had the opportunity to hear Congressman John Boozman shamelessly own up to his bad ideas about Social Security and raising taxes.
If elected, five-term Congressman John Boozman proudly stated that he would:
* Privatize Social Security. Congressman John Boozman stated that he would work to privatize Social Security which would gamble with the life savings of Arkansans on Wall Street and destroy Social Security as we know it.
* Implement a National Sales Tax. Congressman John Boozman was “excited” about imposing a 23% sales tax on everything Arkansans buy. In fact, Congressman John Boozman’s tax would raise taxes overall on all but the very wealthy in Arkansas and would eliminate all corporate income taxes, even for those companies that ship Arkansas jobs out of state or overseas.
It is clear after the Peabody Hotel debate that Congressman John Boozman is too mired in ideology and partisan politics to effectively represent Arkansas seniors, small businesses, or working familes.These ideas are bad for seniors, bad for small business and bad for working Arkansans and Congressman John Boozman is determined to implement them.