Democrats, Republicans and Taxes

Making News

Bhutto Calls for Demonstrations Despite Pakistani Government Crackdown ()

After meeting with some opposition parties today, former Prime Minister Benazir Bhutto called a rally for Friday, despite an official ban. She also demanded that President Pervez Musharraf stand down as head of the Army and end the emergency rule he imposed five days ago. Zahid Hussain, author of Frontline Pakistan: the Struggle with Military Islam, reports for the Wall Street Journal and Newsweek.

Guests:

• Zahid Hussain: Journalist, Wall Street Journal

Main Topic

Democrats, Republicans and 'The Mother of All Tax Reform' ()

Polls show Americans believe that President Bush's tax cuts helped the rich at the expense of the middle class.  Will Congress do something about it? Last week, led by Democrats, the House Ways and Means Committee approved a $76 billion measure to stop the growth of the alternative minimum tax and provide tax breaks for middle-class homeowners and poor parents. It would be paid for with tax increases on business executives and Wall Street financiers. Those sound like the kind of changes American voters are hoping for, but tax reform and election-year politics don't always mix. Even Democratic consultants warn that it's risky to mess with taxes in an election year. Voters are fickle and campaigns have to be paid for. How will Democrats choose between their votes and their contributors? Will tax reform have traction in the presidential campaign?

Guests:

• Jonathan Weisman: Congressional Reporter for the Washington Post, @jonathanweisman
• Stanley Greenberg: Chairman and CEO, Greenberg Quinlan Rosner Research, @StanGreenberg
• Jared Bernstein: Senior Economist with the Economic Policy Institute, @econjared
• Tom Donlan: Editorial Page Editor, Barron's National Business and Financial Weekly, @barronsonline
• John McLaughlin: Republican pollster and strategist

Links:

• Donlan's article on tax measure
• Bernstein's 'All Together Now: Common Sense for a Fair Economy'
• Weisman's article on tax measure targeting hedge funds
• New York Times (February, 2007) poll on healthcare
• Tax Reduction and Reform Act of 2007 (Rangel's 'Mother of All Tax Reform,' HR 3970)

Reporter's Notebook

France's Sarkozy Meets with President Bush ()

When French President Jacques Chirac opposed the Iraq invasion in 2003, French Fries became "Freedom Fries" in the US Senate dining room. Last night, there was a state dinner for the new French President at the Bush White House, and today, President Nicolas Sarkozy addressed a joint session of Congress to standing ovations. Later, the two presidents conferred at Mount Vernon, a shrine of American patriotism.  Serge Halimi is a journalist for Le Monde Diplomatique.

Guests:

• Serge Halimi: Journalist, Le Monde Diplomatique