Income Redistribution: ‘Chronically undertaxed’

In exchange for millions in political donations to liberal lawmakers, Democrat Senate Majority Leader Harry Reid now says his party’s latest tax-the-rich scheme to double the taxes on what The Washington Post called “chronically undertaxed” hedge funds and private-equity firms will not be considered by the Senate. Apparently, $6 million in congressional campaign donations assuaged liberal notions regarding this industry’s “chronic under taxation.” A bribe by any other name...

The Wall Street Journal reports Hillary Clinton, who is, coincidentally, a Democrat presidential candidate, received the largest share of the $6 million in campaign donations. Lobbying firms also benefited from the tax-hike proposal by raking in fees reported to be at least $5.5 million. As there are no reports of liberals claiming anyone was ever chronically over taxed, we may expect the pay-to-play campaign-donations scheme to ward off claims of chronic under taxation will spread to other industries and income levels. Demos must have forgotten last fall’s campaign promises to clean up Congress. What they really meant is that they are going to clean up in Congress.1