Democrats Discover Raising Taxes Is a Bad Idea
In particular, note, they're worried that raising taxes on the rich is a bad idea -- so maybe you can teach an old dog new spots, or something. There is, of course, still a deficit to worry about, and Rubin quotes another batch of Democrats doing just that, which is also welcome news, even if it's a bit late. What marks them as Democrats, though, is that they see the only policy alternatives as raising taxes or raising the deficit -- they seem constitutionally incapable of recognizing the possibility of a third alternative.
In particular, note, they're worried that raising taxes on the rich is a bad idea -- so maybe you can teach an old dog new spots, or something. There is, of course, still a deficit to worry about, and Rubin quotes another batch of Democrats doing just that, which is also welcome news, even if it's a bit late. What marks them as Democrats, though, is that they see the only policy alternatives as raising taxes or raising the deficit -- they seem constitutionally incapable of recognizing the possibility of a third alternative.
The Demos have not exactly accepted tax slashes across the board. In fact there's been some talk of reinstating the older, pre-Reagan brackets: Soak the very very rich.
ReplyDeleteHistorically speaking taxes are still quite low: under Reagan's first term marginal income and capital gains were 50% or so (like 70% under Nixon). The massive cuts went down in '86--that's what made the US plutocracy what it is today (the "tea party" types tend to be a bit confused about the tax game. Don't tell us yr a Sarah Palin fan too, metamorf)
Yes, this wasn't about tax slashes, as far as I can see, but rather a hesitancy about allowing the existing tax cuts to expire. That such a thing is even being considered by Democrats is a sign that they understand this might do some damage to the economy -- in other words, as I say, they understand that lower taxes, even for the rich, might actually do everyone good, which is a sign of progress.
ReplyDeleteAnd yes, J, I'll confess I'm a Palin fan, largely just because of the way she drives the elites, left and right, crazy.