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Jan. 8, 2009

Stratfor Geopolitical Intelligence Report: Arab regimes secretly rooting for Israel?

Larry Elder: Israelis and Palestinians: Who's David, Who's Goliath?

Jeff Jacoby: Yes, it's anti-Semitism

Jan. 7, 2009

Jonah Goldberg: Who are the real Nazis?

Anne Applebaum: Pointless Peace Proposals

Jan. 6, 2009

Caroline B. Glick: Iran's Gazan diversion?

Dennis Prager: Dissecting Dershowitz

Jan. 5, 2009

Mark Steyn: Gaza has its version of rocket scientists

Mona Charen: The So-called International Community

Jan. 2, 2009

Rabbi Abraham J. Twerski: Having a holy tongue

Caroline B. Glick : Hamas' march to victory

Dec. 31, 2008

Dore Gold: Is Israel Using 'Disproportionate Force'?

Renee Enna:: Succulent 'stewp' is quick, easy fix

Dec. 30, 2008

Jonathan Mark: Israel's Response Is Disproportionate

Wesley Pruden: It's time once more to blame the Jews

Dec. 29, 2008

Rabbi Hillel Goldberg: Chanukah: 'Give me Judaism or give me death'

Michael B. Oren: A crisis and an opportunity

Dec. 26, 2008

Rabbi Yonason Goldson: When the past meets the future

Caroline B. Glick: Iran and Hamas do Christmas

Dec. 24, 2008

Rabbi Dovid Zauderer: Judaism's Santa problem

The Kosher Gourmet by Ethel G. Hofman CHANUKAH FORK-FINGER FOOD FEAST

Dec. 23, 2008

Caroline B. Glick: Repeating failure in Gaza

Dec. 22, 2008

Rabbi Boruch Leff: Too many Jews today are missing the intended purpose of one of Judaism's most beloved holidays

Barry Rubin: Liar, liar, pants on cease-fire

Dec. 19, 2008

Rabbi Yonason Goldson: The Final Battlefield

Caroline B. Glick: Betting on a dead horse

Dec. 18, 2008

The Kosher Gourmet by Steve Petusevsky: Juicy Chef's hella top, hella bottom, hallelujah in the middle

Craig Crossman : More gifts for geeks --- and those who love them

Dec. 17, 2008

Dion Nissenbaum: Israel kicks out outrageously biased UN official

Craig Crossman : Gifts for geeks --- and those who love them

Dec. 16, 2008

Jonathan Rosenblum: The Gift of Joy

Frank J. Gaffney, Jr.: Uncle Shariah

Dec. 15, 2008

The Jewish Ethicist by Rabbi Dr. Asher Meir : Expert witnesses who put themselves first

Barry Rubin: What they say isn't what you hear

Dec. 12, 2008

Rabbi Hillel Goldberg: Can the Bible be a secular language?

Caroline B. Glick: What a PM Netanyahu faces from Washington

Dec. 11, 2008

Rabbi Leiby Burnham: Our role in the Divine's global corporation, World Inc.

The Kosher Gourmet by Steve Petusevsky: A retro-tasting pareve pot pie made with a light hand

Dec. 10, 2008

Rabbi Paysach J. Krohn: Groom admits he was caught "red handed"

Kara McGuire: No money for gifts? No problem

Dec. 9, 2008

The Jewish Ethicist by Rabbi Dr. Asher Meir : Can I make my boss treat me fairly?

Stratfor Geopolitical Intelligence Report: Next Steps in the Indo-Pakistani Crisis

Dec. 8, 2008

Rabbi Avi Shafran: 'Chanukah Bush' flap and graciousness

Mark Steyn: Jews get killed, but Muslims feel vulnerable

Dec. 5, 2008

Rabbi A. Henach Leibowitz: Truth --- The Key to Gratitude

Jeff Jacoby: UN's obsession is grotesque and Orwellian

Oct. 29, 2003
Mortimer B. Zuckerman: Graffiti On History's Walls (MUST-READ!)

Jewish World Review Oct. 31, 2008 / 2 Mar-Cheshvan 5769

Redistribution we can believe in

By Rich Lowry


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http://www.JewishWorldReview.com | The growing cast of characters at McCain rallies includes Joe the Plumber, Tito the Builder and now "Barack the Redistributor."


John McCain is keying off Barack Obama's comment to Joe the Plumber about "spreading the wealth around," and his 2001 rumination in a Chicago Public Radio interview about the Supreme Court "redistributing the wealth." Cautious even then, Obama didn't commit himself on whether the Court should force "redistributive change," but his use of the R-word was enough to make it his moniker at McCain events.


Obama is an exotic bird — a self-described tax-cutter for "95 percent of working Americans," with a predilection toward socialistic language and concepts. The key to the riddle is the nature of his tax program.


Obama proposes a dog's breakfast of tax credits, including a $500 refundable work credit that applies even to people who owe no income taxes. The Internal Revenue Service would cut them a $500 check every year. This essentially is a government payment dressed up as a tax cut. It will be partly funded by new taxes on the top 5 percent. So Obama is redistributing wealth, but in an eminently salable way. Call it "redistributive change we can believe in."


Obama's plan wouldn't, like cuts in marginal tax rates, increase the incentive to work, invest or save. In fact, the opposite. As tax credits phase out, they increase marginal tax rates. But for Obama, his plan is a matter of justice rather than economics.


When in a Democratic primary debate Charlie Gibson of ABC News pointed out to Obama that increasing the capital-gains rate in the past has initially reduced revenue, Obama replied that he wanted the increase "for purposes of fairness."


But how unfair is the American tax system? It's already steeply progressive. IRS data show that the top 1 percent of filers paid 40 percent of federal income taxes in 2006. The top 5 percent paid 60 percent. The top half paid 97 percent.


According to the congressional Joint Economic Committee, these are the highest tax shares paid by these income groups since 1986. The bottom half of filers, in contrast, pays 3 percent. Millions of these people have an income-tax liability less than zero, because they receive already-existing refundable tax credits.


Obama couches his work credit as relief from the payroll tax funding Social Security. Even here, the system is already redistributive. American Enterprise Institute economist Andrew Biggs points out that low earners get a roughly 4 percent rate of return on their Social Security taxes, while high earners get a 1.5 percent rate. Obama would heighten the disparity, "pushing it closer toward a welfare-program approach."


None of this means average workers aren't under stress or that tax credits in themselves are nefarious. Rising health-care costs have eroded wages, and McCain has a well-considered policy - including a tax credit — to help workers cope with these costs. An intelligently crafted increase in the per-child tax credit, meanwhile, would counteract the perverse redistribution of our entitlement system — from households with children to childless adults.


But Obama's tax program pursues a foolhardy goal — redistribution for its own sake — in an unworkable manner. As Alan Reynolds of the Cato Institute has written, between his tax credits and other proposals, Obama is seeking to balance some $4.3 trillion of new spending over the next 10 years on the top 5 percent of earners.


Experience shows that raising taxes on these earners doesn't produce as much revenue as expected, thanks to what economists call "the elasticity of income" — i.e., people find ways around the Tax Man. Regardless, there's simply not enough money to be had from "the rich." This is why socialistic European countries have tax systems arguably less progressive than ours. To fund their extensive welfare states, they must resort not only to onerous income-tax rates, but to high payroll and sales taxes paid by everyone.


American workers should beware the siren song of "the Redistributor."

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