Losing-Side Economics

IBD ^ | January 11, 2008

[Kaslin]

Fiscal Policy: With tax cuts responsible for our economic boom, it's mind boggling to find Republicans declaring the tax-cut era dead. Sorry, but the only thing dead will be the hopes of candidates who agree to such nonsense.

---

Some self-styled deep thinkers identified with the Republican Party have taken it upon themselves to deliver an unwelcome message. It's oh-so-painful for them, but they can't keep the hard truth from the masses: America now finds itself facing "the end of the tax-cutting era," as David Frum puts it.

According to Frum, who departed the White House as a speechwriter after a flap over whether he was taking credit for President Bush's "Axis of Evil" line, "the days of broad, across-the-board, middle-class tax-cutting are over."

Frum comes to this conclusion after citing an estimate formulated by Democratic presidential candidate Mike Gravel's economic adviser, Laurence Kotlikoff, of a $66 trillion gap between future U.S. income and promised government expenditures over the next quarter century.

Since we can't double income taxes and we can't have a two thirds cut in Social Security and Medicare benefits to pay that $66 trillion, Americans must acclimate themselves to a higher level of taxation. No more dusting off the "Greatest Hits of the Reagan Era."

[MNJohnnie]

Apparently the GOP is dead. Their two front runners McCain and Huckabee are big tax, big Govt Leftists. And from the polling data, the vast bulk of the party have no problem electing a Hillary Clinton style Big Govt Leftist just so long as they come with the proper party label and aren't named Clinton.

[padre35]

The inevitable backlash MN, led by heartless Repubs, we may have had too soft and the “masses” have lost the zeal for small govt, small tax FedGov...

We have an almost 3 trillion dollar Federal Budget, and of course we need more taxes not less spending to pay for it.

[boop]

The republicans are making themselves obsolete. One thing that even country club GOPers favor is lower taxes. If they can’t distinguish themselves from democrats on taxes, they won’t have anything to really run on. “Hi, I’m Joe republican. I want high taxes, just not as fast as the democrats.” People will vote for a real liberal in that circumstance.

[VRW Conspirator]

Like Glenn Beck says - I am gonna wrap duct tape around my head to keep it from exploding.

[padre35]

“Hi I’m Joe Republican, and we have to raise taxes on the wealthiest 1% to pay for you diabetes medicine”

It has been lost that Dhimmicrats now represent the richest Congressional districts in the US.

Why do you suppose that is?

[RockinRight]

I honestly don’t know, beyond perhaps guilt?

[Mr. Jeeves]

...a $66 trillion gap between future U.S. income and promised government expenditures...

Promises are made to be broken...and will be, in this case, regardless. So how about a 50% cut in "promised" Social Security benefits, but in return workers become exempt from Federal and State income taxation when they reach retirement age? They can work as long as they want, and keep all the money they make.

[Myrddin]

That's a better proposal than the "Fair Tax". It would be nice to be able to keep on working with my employer's health insurance benefits instead of being forced onto Medicare at age 65. That is such an asinine policy. I won't have to worry about it for another 14 years.

[padre35]

BDS?

Or it could be that these districts tend to be urban and they may not like the religious lean of some Republicans?

Republicans have a tailor made issue for 2008 in Congressional elections in those districts, the Dhimmis only pushed the AMT’s implementation back 1 year, surely we can make some hay in those districts on “You will pay 33% in AMT taxes (if not more) 35% or higher taxes on your investments..

Those folks are RINOS/ moderates the types who vote for Arlen Spector and Jack Murtha..

[ripley]

“it has been lost that dhimmicrats now represent the richest congressional districts in the us.”

(?)

is it because they have been sucking the public treasury dry for fourty years, for the children?

[padre35]

Unfortuneatly, riply, it’s quite true, the Democrats are now the party of the “rich”.

The 30 wealthiest Congressional Districts in the US are represented by Dhimmicrats.*

I would add that there is more then likely 1 or 2 Republicans mixed in there, but on the whole, the Rich prefer the jackass to the Elephant...

[Cacique]

bump

[Malsua]

workers become exempt from Federal and State income taxation when they reach retirement age?

I think this alone is a fantastic idea. I probably won't live the 30 years I need to so that I can retire..but this is perfect.

hit 65, pay no taxes. I love it.

[Clemenza]

The "richest" districts are usually in urban areas in the bay area and the northeast.

However, here in New Jersey, the wealthy counties (Somerset, Hunterdon, Morris) vote most reliably GOP, while the urban and "blue collah" areas still vote Dem. In other words, we haven't changed in the Garbage State.

[wastoute]

My son-in-law recently asked me to explain the current Right vs Left politics. I thought carefully for a bit and answered him like this. Consider Taxes. Every Left pol. knows that when taxes are already high further increases lead to lower revenues. So you have to ask yourself why they do it. The answer doesn’t really matter pick one. They are lying, they think we are stupid, whatever. The bottom line is they know that whatever new program they are proposing the tax increases for won’t actually be funded. How can we trust such people with our future? So it really is as simple as this. We don’t need to impute any agenda or conspiracy. Any pol. who wants to raise taxes can’t be trusted to “manage the shop”. We can go down the list from there on immigration, gun control, etc.

[Doe Eyes]

Every Left pol. knows that when taxes are already high further increases lead to lower revenues.