Friday, October 22, 2010

The Stark Choice Facing The First State

Former Delaware Governor Pete DuPont (no wild-eyed radical, he) has written a superb column for the Wall Street Journal in which he talks about the recent debate between Coons and O'Connell and the stark choice facing voters in the First State.
Here's part of what he says:

When Mr. Blitzer asked Mr. Coons, "Did you increase taxes as the county executive?" Mr Coons ducked the question. But he did in fact increase property taxes in New Castle County, by 48%. And his website says "High-Income Bush Tax Cuts Should Expire on Schedule," so he would raise federal tax rates, too. In the debate, Mr. Coons said that "every increased tax cut, every extension that's given is going to cost, it's going to increase the deficit."
In truth, Delaware's state income tax rate reductions in the 1970s through the '90s-cutting
them in half, and then again in half--increased income-tax receipts by more than 300%. The 2001 and 2003 Bush tax cuts--the ones that will expire Jan. 1 unless Congress acts--also raised receipts, by $608 billion over four years. Lower tax rates have proved to be good for America, and higher tax rates would hurt it. Ms. O'Donnell would vote not to raise the Bush tax rates and also proposes a two-year tax holiday on capital gains to encourage reinvestment in business. She would also eliminate the death tax that goes up in January
Click here to read the full column by Pete DuPont. It's worth your time!

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