Jonah: I agree with you that if we were choosing between, say, a $700 billion tax cut and $700 billion in spending cuts on the one hand, and the tax cut alone on the other, the better option is to have both. But would a rule requiring that tax cuts be offset by spending cuts be more likely to result in both spending cuts and tax cuts, or in no tax cuts at all? And if the choice were tax cuts without spending cuts on the one hand and neither tax cuts nor spending cuts on the other, which is better? There are rational theories for answering that question either way. Most of the time, I’d be inclined to take the tax cut. Certainly I think the tax cuts of 1981, 2001, and 2003, none of which were fully offset by simultaneously enacted legislation, were worth having. (I doubt any of them could have passed with such offsets.) I don’t think tax cuts should be held hostage to spending cuts. Among other things, that rule would trap Republicans in their pre-Reagan role as tax collectors for the welfare state. Another point worth mentioning: Previous budget rules have required tax cuts to be offset by cuts in entitlement spending (or increases in other taxes), not cuts in discretionary spending–which raises the bar against tax cuts pretty high.
Lots of people are wondering just why Democrats rejected President Trump’s plan to reopen government agencies even before he announced the plan. House speaker Nancy Pelosi called it a “non-starter,” and Senate Democratic whip Dick Durbin rejected it even though, as the Daily Caller noted, Trump’s proposal ... Read More
This weekend, Americans traveled from across the country to Washington, D.C., to participate in the March for Life and the Women’s March by walking with their poster art. While the pro-life marchers’ art focused on women and unborn life, the posters of Women’s March attendees, including small children, ... Read More
Jonah: I agree with you that if we were choosing between, say, a $700 billion tax cut and $700 billion in spending cuts on the one hand, and the tax cut alone on the other, the better option is to have both. But would a rule requiring that tax cuts be offset by spending cuts be more likely to result in both ... Read More
The U.S economy is aching for many more highly skilled, technically trained people. But what if men end up limiting their eventual marriage prospects if they pursue careers in the trades or other jobs that don’t require a four-year degree? Some proportion of women who have bachelor's and post-baccalaureate ... Read More
Leon Trotsky — n.b., Millennials: He was Alexandria Ocasio-Cortez before she was — understood the power of single-payer systems: “The old principle: who does not work shall not eat, has been replaced with a new one: who does not obey shall not eat.” The socialist powers of Trotsky’s time made good on ... Read More
You’ve probably seen the viral footage of a Native American beating his drum, surrounded by a crowd of students from Covington Catholic high school. One of them, wearing a MAGA hat, is right in front of him, with a smirk on his face. It was an odd moment combining the end of the March for Life, which the ... Read More
B uzzFeed published an explosive allegation that the president of the United States ordered his former lawyer, Michael Cohen, to lie to congressional committees investigating Russia’s interference in the 2016 election. Specifically, in a news story sourced to two anonymous law-enforcement officials said to ... Read More