Third Way Dispatch

It’s May 2006. The polls for the reigning champs are dismal. The base is dissipating; the middle dissolving; and the left is fulminating. Nancy Pelosi is measuring the drapes in the Speaker’s office. Chuck Schumer is stacking gold bricks in his war chest. The K-Street project has been suspended.

So what does the conservative leadership in Congress do? They pull out an old chestnut—the tax cut.

Sure it takes some hubris to propose a tax cut right now. After all, our federal deficit is nearing $400 gazillion. And most of these tax cuts wouldn’t take effect until 2009. (Hmmm. Sounds like someone is losing a little confidence in keeping power.)

But this tax cut is a bit of a cheapie. At least for the middle-class. For taxpayers in the $30,000 to $75,000 range—and you just know how obsessed I am with these folks—they get a whopping $65.76 per family out of the deal. I’ve got one word for you: “Sizzler.”

The wealthy, well they do a bit better. Their take is $7,315.77 a piece. Of course, the wealthy pay more taxes than the middle-class. That’s what Dubya tells us. But 111 times more? I don’t think so.

Here’s the score. The wealthy do so well because conservatives believe that as the wealthy goes, so goes the economy. If they are doing great, they argue, mammon will eventually rain down upon the middle-class. In this case, that mammon is worth about $65.76.

Read our new message memo Tax Giveaway Misses The Mark on the bad news tax cut for the beef. Sizzler beef.