Democrats blast GOP tax cut bill

WASHINGTON -- Democratic Sen. Harry Reid of Nevada attacked the Republican tax cut bill passed by the House of Representatives this week as irresponsible and ill-conceived. The alternative Democratic plan, he countered, would address the national debt, protect Social Security and Medicare, help seniors pay for prescription drugs and "give something back to every American."

In Saturday's weekly Democratic radio address, Reid warned the tax cut bill could spell disaster. "This ill-conceived plan is based on a 10-year projection of budget surpluses, a magic forecast of what might happen 10 years from now, if a rainy day never comes and the economy never slows down."

Reid charged the Republican bill doesn't treat all taxpayers fairly. "American taxpayers will get no tax relief whatsoever under the Republican plan. I repeat, one out of every four won't get a penny," he said.

He also criticized the GOP-Bush plan as shortsighted. "The Republican plan spends it all and leaves nothing for tomorrow. It gives away the entire surplus for the next 10 years, money that doesn't exist, and perhaps never will."

As an example, Reid said, "take an average hotel worker in my home state of Nevada. He's married and has two children, and earns $25,000 a year. Under the Bush-Republican plan, he would get nothing -- not one cent in tax relief. Now take a rich stockbroker in New York who made millions trading other people's money. Under the Republican plan, he'd win the lottery. I don't think that's fair."

In contrast, Reid said, the Democratic plan offers a straightforward tax cut with relief for all Americans. "First, let's take Social Security and Medicare off the table so that those funds are protected. Then, let's take one-third of the surplus and give every American, not just the rich, a fair tax cut. Let's use another third of the surplus and invest it in education and other key priorities. Finally, let's use a third of our surplus to keep paying down the debt."

Reid compared the Republican tax cut to an indebted consumer's spending habits. "It's like running up your credit card bills today because a fortune-teller predicted you'd be rich in 10 years. When the bill comes due, you can't pay with a prediction."

Democrats, he said, believe it is time for a tax cut and are willing to work with President Bush on a bipartisan tax plan.

"In an era of surpluses, we're all for tax relief, " he said. "But let's do it in a way that's responsible, affordable, and above all, that is really fair."

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