From: James A. Hoage
The four horsemen of our apocalypse are Declining Competitiveness, Decaying Infrastructure, Defective Education and Degenerative Health Care. But our desensitized, bloodless wonder in the White House hasbut one remedy: Cut the capital gains tax.
This myopia confirms what we are gradually coming to realize: Mr. Bush is, like his predecessor, a president for just the rich. All a capital gains tax cut is going to do is boost the profits the rich make on sales of real estateand stock. There is no more guarantee in 1992 than in 1980 that cutting taxes for the rich induces them to invest in job-creating industries that also make the nation more competitive in the world market. Such investment requires an investment tax credit, and to get that, among other things, we are going to have to go to a Democrat. Which Democrat?
Let's try Bill Clinton. He has a governor's executive experience. And Arkansas' infrastructure -- especially its schools -- is much better because of him. His reform ideas helped Sen. Moynihan rewrite our federal welfare laws. Governor Clinton condemns the 1980s as a "gilded age of greed, irresponsibility, excess and neglect."
He proposes cutting middle-class income taxes, expanding Earned Income Tax Credits for the working poor, creating 45,000 new highway construction jobs, raising mortgage guarantees for first-time buyers, expanding college loans and requiring public service as repayment, subsidizing low-income people starting small businesses, guaranteeing health care to all workers, sending youthful offenders to boot camp, putting a two-year cap on welfare for able-bodied recipients, and granting tax credits for research and development investment.
Mr. Clinton is praised by Democratic leaders generally but notably in the South and Midwest as "the most engaging speaker in American politics," as "aggressive and confident but not cocky," and as having "the heart, the talent, and the vision for the job."
We ended the plutocracy of the 1920s by using Roosevelt to oust Hoover. We can end the plutocracy ofthe 1980s the same way: by using Clinton to oust Bush.