The Corner

Bad/bad

With Clinton we got high taxes (bad) but balanced budgets imposed by the spending caps in Congress (good). With Bush we got tax cuts (good) but deficits (bad). With Obama we get tax hikes (bad) and astronomical deficits (bad).

Two notes: We are not going back to the Clinton tax hikes, but something far scarier, with states raising taxes, the fed doing the same, and new proposals to lift the caps on FICA payroll taxes. And these vast increases won’t go to pay for the deficit, but to fund new spending/borrowing plans that come on top of deficit spending.

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