Putting One Over

Putting One Over

Laughing
Wednesday, August 6th 1997: I don't know about you, but when I see a love-fest between the White House and the Republican leadership my scamming radar deploys.

Witness yesterday's mutual admiration club on the White House lawn as President Clinton stood among the likes of Trent Lott and Newt Gingrich singing the praises of this year's budget, each other and the "largest" tax break in 16 years.

Gingrich even gave credit to Hillary Clinton and Tipper Gore for bringing home the budget bacon, although , for the life of me I don't know why. Maybe they baked cookies for the Congress.

When pols tell you they are finally working together to better your country, it's the time to duck under the covers and hide.

I took a look at the "huge" tax breaks offered by the bi-partisan team, and for the life of me couldn't figure out what all the hoopla is about. Neither can most American families who don't see much in the much-touted tax cuts that might give the average Mr. and Mrs. America with two kids about 60 bucks a month to "invest in their futures."

Trying not to laugh
Sure, there are some big gimmees in the tax and spend bills President Clinton signed yesterday, but as usual these silver ingots are for the richer among us. The White House was supposedly hunkered down and playing it tough to protect the working poor in this round, but the truth is the working poor don't give a hoot about cuts in capital gains taxes or the new higher ceiling on tax-free estates. The only estate most of them will leave are their parents unpaid VISA card bills and a hefty funeral tab to boot.

If Republicans and Democrats wanted to offer working people real tax cuts they could have given us real tax cuts instead of tax "credits" aimed at increasing population growth. After all, the only tax breaks open to the average Joe are the child tax credit of $400 this year and $500 thereafter, and the tuition tax credit for those same kids. So, if you want a real tax break you'd better start planning a BIG family.

If a young couple with a three year old child is earning $35,000 a year, they'll get an astounding credit of $33.33 a month -- not enough to pay the cable television bill so the kid can watch Sesame Street. This couple isn't worried about their parents being able to leave them $1 million tax free. They weren't worried about the old top out of $600,000. They also aren't concerned with capital gains taxes. Heck, the only capital gains they have is the $10 a year they earn on their Christmas Club account at the local bank.

So where's the big break?

Newt Gingrich told it best. The speaker said the budget agreement was proof that "the American constitutional system works." Lawmakers, he said, "reached beyond parties" and responded to the "will of the American people."

Sure, if you define the "American people" as those concerned with capital gains and estate taxes.

The only high point at yesterday's signing ceremony was the conspicuous absence of House Minority Leader Dick Gephardt. He knows a phony when he sees it.