The big debt lie
By Gene Lyons
Salon.com
There's nothing remotely conservative about believing in magic. Yet when it comes to fiscal questions, Republicans are as superstitious as gamblers around a roulette wheel. Regardless of how much they've lost, they're confident their system will prevail if they double down one more time.
How you can tell they're about to do something momentously dumb is when they're unanimous, i.e., operating on sheer ideology. Show me a unified GOP, and I'll show you a budgetary disaster about to happen. That's what makes the pending showdown over raising the national debt limit so worrying.
But hold that thought.
The betting system the GOP's been playing for the past 30 years is called supply-side economics. "The theory goes like this," explains David Cay Johnston. "Lower tax rates will encourage more investment, which in turn will mean more jobs and greater prosperity -- so much so that tax revenues will go up, despite lower rates."
(More here.)
Salon.com
There's nothing remotely conservative about believing in magic. Yet when it comes to fiscal questions, Republicans are as superstitious as gamblers around a roulette wheel. Regardless of how much they've lost, they're confident their system will prevail if they double down one more time.
How you can tell they're about to do something momentously dumb is when they're unanimous, i.e., operating on sheer ideology. Show me a unified GOP, and I'll show you a budgetary disaster about to happen. That's what makes the pending showdown over raising the national debt limit so worrying.
But hold that thought.
The betting system the GOP's been playing for the past 30 years is called supply-side economics. "The theory goes like this," explains David Cay Johnston. "Lower tax rates will encourage more investment, which in turn will mean more jobs and greater prosperity -- so much so that tax revenues will go up, despite lower rates."
(More here.)
Powered by Blogger
0 Comments:
Post a Comment
<< Home