{"id":615,"date":"2007-03-22T09:28:05","date_gmt":"2007-03-22T15:28:05","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/index.php\/index.php\/2007\/03\/22\/reinforcing-failure\/"},"modified":"2020-12-21T05:35:25","modified_gmt":"2020-12-21T11:35:25","slug":"reinforcing-failure","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=615","title":{"rendered":"Reinforcing Failure"},"content":{"rendered":"

One of the great\u00a0legacies of the Bush Administration is further <\/em>proof that tax cuts work.\u00a0 They stimulate the economy.\u00a0 They put people to work.\u00a0 They\u00a0are a just-plain-good thing.<\/p>\n

Now, the Bush Administration screwed up, and badly, by not cutting domestic spending.\u00a0 Those of us who supported Steve Forbes up until the end of the 2000 convention are justified in going “I Told You So”.\u00a0 And so we shall.\u00a0 But Bush’s tax cuts have given us an economy that, by any rational measure (except Lexus\/Nexus hits) is one of the best ever.<\/p>\n

Oh, the Democrats will barber than\u00a0they\u00a0starve the government of revenue – which, of course, exposes the central problem with their thesis; the role of our society is not <\/em>to keep government afloat first and foremost.<\/p>\n

The Dems have that wrong – aggressively so.\u00a0 \u00a0And they want to “fix” that – to put government at what they call its’ rightful place in the fiscal food chain, way up front.<\/p>\n

Jay Reding on the Dems’ plan to gut the US economy<\/a>:<\/p>\n

\u00a0To [re-raise taxes] would be to erase the millions of jobs created in the past few years, introduce a huge amount of uncertainty into the market, and ensure that businesses would delay job-creating capital investments until they know what the tax consequences of those choices would be. The Asian markets had a massive sell-off because of similar fears<\/a>, and the same would happen in America if there was a credible threat of a major capital gains tax increase…However, the worst thing that could happen is for the Democrats to raise taxes, spurring another selloff and then add more to the already burdened entitlement system. That is also precisely what the Democrats want to do \u2014 which is why the President should be prepared to veto any bill that raises capital gains taxes beyond the current level.<\/p>\n

The economic reality is that capital gains taxes are economically wasteful<\/a> \u2014 they don\u2019t generate much revenue and they hurt economic growth, reducing tax revenues in other areas. Even if a 0% capital gains rate isn\u2019t politically acceptable, neither is a return to a time when capital gains rates were acting as an anchor on economic growth.<\/p><\/blockquote>\n

It’s here, again, that elections matter.\u00a0 It’s here that we pay for having the likes of Amy Klobuchar and Tim Waltz in Congress; their philosophy is “government comes first”.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the great\u00a0legacies of the Bush Administration is further proof that tax cuts work.\u00a0 They stimulate the economy.\u00a0 They put people to work.\u00a0 They\u00a0are a just-plain-good thing. Now, the Bush Administration screwed up, and badly, by not cutting domestic spending.\u00a0 Those of us who supported Steve Forbes up until the end of the 2000 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,20,107],"tags":[208],"class_list":["post-615","post","type-post","status-publish","format-standard","hentry","category-campaign-08","category-democrats","category-i-told-you-so","tag-a-klo"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=615"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/615\/revisions"}],"predecessor-version":[{"id":44085,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/615\/revisions\/44085"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=615"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}