Skip to comments.A Paw In Every Wallet
Posted on 11/19/2010 8:31:10 AM PST by jfd1776
...We are told that the current debate is on whether or not to extend the Bush tax cuts. From the very start, this argument is deceptive. A tax cut the act of cutting is a one-time thing. Once in place, its just another part of tax policy. The portions of our tax policy currently being debated have stood, unchanged, for five, seven, even nine years now. You simply cant call these things cuts anymore.
The choice before us, honestly described, is between leaving the status quo alone or implementing an enormous tax hike the very second that lighted ball drops in Times Square on New Years Eve.
Imagine, if you will, that we were debating some federal judicial decision, such as Miranda, or Marbury v Madison, or Roe v. Wade. Its been a few years perhaps they should expire; perhaps they should be renewed. What would we be told in response? But thats settled law! Weve been over that ground before, you cant reopen it! How much more so is it critical that tax policy be stable, that individuals and businesses alike should be able to count on predictable tax rates, level for years, to enable rational long-term planning.
Continue Reading "A Paw In Every Wallet" in Illinois Review at http://illinoisreview.typepad.com/illinoisreview/2010/11/a-paw-in-every-wallet.html
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