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Kiss of Death

Ever since George H.W. Bush reneged on his "read my lips" pledge, any politician has faced the kiss of death (a lost election) if suggesting even remotely that he/she might raise taxes. At last night's Democratic debate both candidates tightrope walked the issue, while John McCain has adopted...

By Jonathan D. Miller | Updated on April 17, 2008

Ever since George H.W. Bush reneged on his “read my lips” pledge, any politician has faced the kiss of death (a lost election) if suggesting even remotely that he/she might raise taxes. At last night’s Democratic debate both candidates tightrope walked the issue, while John McCain has adopted the post Bush Sr. Republican battle cry of “no new taxes.”

Everybody seems to forget that both Ronald Reagan and Bill Clinton raised taxes during their terms leading to periods of strong economic growth and in Clinton’s case even a budget surplus. And of course, McCain was an early opponent of Bush Jr’s tax cuts. Now despite our multi-trillion dollar national debt, candidate McCain even suggests suspending the gas tax over the summer, while the Highway Trust Fund, which the gas tax supports, tracks toward insolvency next year.

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