From my most recent NRO article, laying out the changes that are necessary in U.S. domestic and economic policy: “Republicans should settle for a blend of income-tax reductions and sales-tax increases that raises taxes for discretionary consumers and stimulates the economy while shrinking the deficit. Shrieking the mantra of no new taxes is just sterile dogmatism, though the motive for it is commendable.”
Whether you agree or disagree, your comments are, as always, most welcome.
Oh, but the government does not provide much to "discretionary consumers," which presumably means the very people who are keeping the service economy alive by eaing out. Instead, the government provides most of its services to property owners (real and intellectual) and education-cosuming industries. Tax them.
A rational tax policy, with resulting stable economy, cannot be obtained of the source of tax does not match the purpose. Anything else is social engineering. There is no credible difference between taxing incomes solely to level them, and taxing "discretionary" expenditures solely to amass capital. Social engineering either way.
Reply to this commentLinkReport AbuseI have a friend with an ex-wife who sounds a lot like Mr. Black. She ran up tens of thousands of dollars in credit card bills, over-drafted their checkbook, and depleted their savings. Then she demanded that my friend get a better job that paid more money.
His reaction, as Hobson might have said, was, "There's the door."
Ironically, in divorce she is still incapable of making rational economic decisions, preferring instead to litigate her way to financial security. I had to rig the bonus system at work because if my friend got a bonus, she would send the lawyers to take it. So we worked out a bonus system whereupon taxes were paid, but not the incontinent ex-wife or her lawyers.
The true Hobson's choice in our current situation is across-the-board spending cuts and reductions in benefits for entitlement programs. Whole agencies need to be shuttered, and their regulations shredded. Only when the income levels of Northern Virginia start to look like suburban Indiana will our fiscal house stop burning. But I won't hold my breath that the thousands of retired generals, colonels, GS-15's, SES's and their double-dipping, crony capitalist, minons will be required to earn an actual living in the open market.
It is not "sterile dogmatism" to expect the drunkard to stop drinking rather than make the bartender raise prices in the bar to subsidize the drunkard's addiction.
Reply to this commentLinkReport AbuseTax cuts pay for themselves, so a compromise would be to leave gov't spending at high levels and just cut taxes by 1/3 or 1/2 or 2/3 or whatever they need to be cut by in order to balance the budget. If the budget is still out of balance, then just repeat cutting taxes as needed until the budget is balanced.
Reply to this commentLinkReport AbuseBoth the good and the bad here, but something tangible nonetheless. Why can't anyone running for office come up with a concise, yet robust plan? And it's hard to disagree with the conclusion. Decent enough to Tweet @noBodecares.
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