The Minnesota congresswoman wants to end the Earned Income Tax Credit and says she's open to tax hikes on the rich
With AP reporting that Michele Bachmann wants to eliminate the Earned Income Tax Credit, a move that would mean a substantial tax hike on the working poor, it is very likely that all of the following will happen. 1) In some press appearance or televised debate, Bachmann will be asked to defend her proposal. 2) She'll respond that it's important for even the poorest Americans to contribute to the commonweal some token amount -- $10 is the figure she typically suggests. 3) She'll neglect to mention that the working poor already pay much more than that in non-income taxes. 4) One of her rivals, Mitt Romney, will use the opportunity to boost his general election chances, assuring the American people that he is against raising taxes on the working poor. 5) And if I know the GOP, it'll all end when someone quotes President Reagan, who called the tax credit "the best antipoverty, the best pro-family, the best job creation measure to come out of Congress" after expanding it during his 1986 tax reform effort.
What's strangest about this report is that last week, Bachmann explained that she was modeling her tax plan on the 1986 reform. "In the 1980s, Ronald Reagan enacted tax reform that created a period of unparalleled prosperity. I intend to increase our competitiveness by following his blue print for tax reform," she said.