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Quote of the Day: On Pledges

Posted By Barry Ritholtz On December 21, 2012 @ 10:48 am In Politics,Taxes and Policy | Comments Disabled

From Jim Welsh, whose MacroTides [1] have graced the Think Tank for several years now.

Jim wrote this last night:

“Fully 95% of Republican members of Congress have signed the Americans for Tax Reform Taxpayer Protection Pledge. Signors pledge that they will ‘One, oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses; and Two, oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing rates.

We agree in opposing tax increases for the middle class, but to oppose any tax increase in a time of budget crisis is putting this pledge above country.

Is this pledge always supportive of the common good? For any member of Congress, the most important pledge is this. “I pledge allegiance to the flag of the United States of America and the Republic for which it stands, one Nation under God, indivisible, with liberty and justice for all.’ ”

-Jim Welsh, December commentary

Nicely said . . .


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