401k, IRAs, and Bernie’s plan for a ‘financial transactions tax’

Dear Team Clinton… kudos on your attacks on Bernie’s health care plan. They’ve done so well that you’ve turned almost every single media outlet into a real font of actual journalism by forcing them to point out just how disingenuous your attacks are. Maybe if we’d had that kind of analysis from the media, W wouldn’t have been re-elected in 04, but I digress.

Rather than attacking something the Secretary, in principle, supports, why the hell don’t you attack him on his financial services tax? That will actually have an impact on the lives of every American who will find their retirement a little tighter. It also neatly points out that Bernie’s plan for a half percent tax will also raise less revenue than a tenth percent tax since the higher tax rate will remove liquidity from markets. It’s the same old bullshit that says a 90% tax rate will raise x dollars… it won’t because people will find a way NOT to pay it.

Part of President Clinton’s genius was in realizing that maximizing tax income was more important than the absolute rate. Secretary Clinton knows this all too well. So let her talk about that, since it’s a clear difference between the candidates… thoughtless idealism that fails to ever achieve the goal vs real world pragmatism and actual leadership that results in improving conditions.

I’m the type of Democrat who wants solutions, not ideological bullshit that’s never worked in the real world. It’s time to remind voters that pragmatism matters.

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