Revival of the tax hikers

In recent years, the old "let's tax them more" crowd was on the defensive. But now, with a politically weakened president, the tax increase lobby is out in full force. All the Democrats running for president have promised to increase taxes. Almost every week, some senator or representative advocates more taxes to impose upon the American people.

The tax increasing Democrats are betting the new generation of voters does not remember how the old, high tax rates affected the economy. The U.S. has only suffered three "down" quarters of economic growth since 1982 — a record never before enjoyed. To pull off the "new taxes will not hurt" charade, the Democrats need to convince people the Reagan and Bush tax cuts had nothing to do with the unmatched economic growth and job creation. But the record is very clear about how the economy improved once the Reagan and, subsequently, the Bush tax rate reductions were enacted. Thus, the new line of attack is that the economy would somehow magically have improved without the tax cuts, and that the people behind the Reagan tax cuts were "crackpots."

Jonathan Chait, a self-proclaimed Bush-hater and a senior editor of the New Republic, is now trying to rescue his Democrat friends by writing a new book, "The Big Con: The True Story of How Washington Got Hoodwinked and Hijacked by Crackpot Economics." I just read a lengthy excerpt from the book in the New Republic, which quickly demonstrates Mr. Chait neither understands basic economics, nor wishes to present the true story of the "supply-side" revolution, in which I was a bit player.

I guess they're going to go ahead and let the AMT run roughshod over us too.

Excellent. I love it when they get their strategery in a knot and show their true colors BEFORE the election.

2 posted on 09/18/2007 11:51:08 AM PDT by Still Thinking (Quis custodiet ipsos custodes?)

We need to keep in mind the fact that these politicians are sitting at the destination for this tax money, so many of them are either in favor of higher taxes or willing to look the other way while someone else raises them.

3 posted on 09/18/2007 12:00:32 PM PDT by capt. norm (Be thankful we're not getting all the government we're paying for.)

Now to get the word to everyday Jane and John Doe.

4 posted on 09/18/2007 12:14:07 PM PDT by lilylangtree (Veni, Vidi, Vici)

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