Bush tax cuts move to center stage and no one understands their political might better than the Democrats’ favorite hate object.
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Actually, the Republicans on the super committee were willing to compromise “putting tax revenues [not tax rates] on the table,” the editorial noted. “Pennsylvania Senator Pat Toomey offered $500 billion in revenues-$300 billion in the statically scored tax increases that Democrats demanded-by cutting deductions mainly for the wealthy.”
The Democrats rejected this offer from one of the leading anti-tax figures in the country, the former head of the Club for Growth, instead holding out for a trillion dollars and opposing lower tax rates.
Appropriately, Charles Krauthammer, in a column (“The Grover Norquist tax myth”) the day after Thanksgiving, called out the Democrats for their “thickness — the inability to tell the difference between tax revenue and tax rates.”
“In deficit reduction, all that matters is tax revenue. The holders of our national debt care not a whit what tax rates yield the money to pay them back,” says Dr. Krauthammer. “They care about the sum.”
Democrats, oblivious to the economic efficiency and dynamism of tax reform, “flatter themselves as the party of fairness, are instead obsessed with raising tax rates on the rich as a sign of civic virtue,” says Krauthammer. He is certainly right about congressional Democrats. Regrettably, more intellectually credible Democrats such as Alice Rivlin and Erskine Bowles, who recognize these truths, are spurned by the Obama White House and the Reid-Pelosi caucuses in Congress.
“Democrats are confident they can blame Republicans for the failure and ride their president’s class war campaign to victory,” said the WSJ. “Republicans have to counter with a message of economic growth and sensible reforms of our government institutions so the U.S. doesn’t end up like Europe.”
“This is for voters to decide. Let’s have it out.” Grover Norquist and the GOP will certainly concur.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?