Julian Assange Promises More Leaks, Jazz-Hands | Main | Like Pigfords At A Trough
July 27, 2010

Mike Pence: No, TurboTax Tim, The Country Cannot "Withstand" Tax Hikes

Regarding Tim Geithner's damn-with-faint-praise statement that the country can withstand higher taxes:

"This administration defines 'good policy' as what the country can withstand? The country cannot withstand more spending more borrowing more bailouts or more taxes, and House Republicans will fight this tax increase with everything we've got."

Meanwhile, a PJM writer speculates that Democrats are pondering how to reverse their course without seeming like they're reversing course.

The Democrats must know $75 billion in new taxes next year (and $1.4 trillion over 10 years, according to Michael Boskin in the Wall Street Journal) could push the economy into a coma. It could certainly stifle job growth.

The Congressional Budget Office agrees. In fact, it nearly doubles down on the figures. It estimates $115 billion next year and $2.6 trillion by 2020.

Now, they may not read the bills they pass. But the Democrats must be aware that the CBO predicts big damage if they let the tax cuts expire.

They need the makeup and disguises in order to finesse what they must do. They must keep all or most of the Bush tax cuts or they must replace them with other tax cuts. They cannot afford to drug the economy with tax increases at this stage.

How do they pull this off?

...

They can hardly admit their opponents were right the critics who called for tax cuts 18 months ago, not to mention those who months ago called for Congress and the president to announce they would extend the Bush cuts.

Also, there is a swig of castor oil you must take when you admit your opponent is right. You must concede you were wrong. If they extend tax cuts now, they concede their recovery plan was wrong. With it, they spent, rather than cut. They gave the back of their hand to small and mid-sized businesses. In this they were wrong and dumb and out of touch with the real world of job creation.

I linked a few weeks ago a piece by Keynesian liberal economist Brad DeLong making the case we needed a bigger stimulus, or a new one, but noting that he'd be happy with tax cuts -- which, he noted (as if it needed noting), also constitute Keynesian stimulus.

Sure would have been nice for Obama to have noticed that a year and a half ago.

Oh wait, he didn't write the bill; he let Nancy Pelosi write it for him.

Sure would have been nice for Nancy Pelosi to have noticed that a year and a half ago.



digg this
posted by Ace at 02:01 PM

| Access Comments




Recent Comments
LASue: "The Leah Remini show is on. It's now making more s ..."

Jean: "Republicans had to save Obamacare before they coul ..."

Donna&&&&&&V.: "almond joys are good. And I like Mallow cups more ..."

CharlieBrown'sDildo: "They are like a sports Obama. Too much idol worshi ..."

Peaches: "It always sucked when I picked out a chocolate fro ..."

grognard: "I hate to say it, but single payer is the inevitab ..."

Big Fat Meanie: "For the sake of baseball, end the infield shift! ..."

bluebell : "Blutarski, I've long seen warnings about the comme ..."

Donna&&&&&&V.: "I'm glad someone likes Circus Peanuts. to me, the ..."

Peaches: "A demain, mes amis.  God bless us, every one. ..."

torabora: "Democrats to Republicans: Here, pull my finger! ..."

concealedkerry or submit: "Republicans had to save Obamacare before they coul ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64