The Corner

Dishonest

The cover of the New Republic has Bush’s picture and the line, “He’s Still Lying: Jonathan Chait on Bush’s Most Dishonest Tax Cut Yet.” It’s not a bad article. It’s quite convincing in making the claim that Bush’s Keynesian rhetoric doesn’t square with the tax bill that he got Congress to enact. It makes a reasonable argument that the supply-side effects of the bill will be small–although I am less convinced of this point. What the article does not do is establish that Bush is lying. Does Bush not believe that his plan would stimulate the economy and create one million jobs? The most common argument for the “dishonesty” of Bush’s tax cut is that its revenue impact is being lowballed–since its provisions are supposed to expire but will in all likelihood be extended. But that’s just not dishonest. The projections were made for the period the bill actually cuts taxes–which is entirely defensible. When Congress actually extends the tax cuts, it will incur, and debate, additional “costs.” Chait may think the tax cut was irresponsible public policy. But his long piece does very little to establish its dishonesty.

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

Most Popular

Economy & Business

Shopping Superstitions

It’s the boss-bossiest time of the year, when Americans getting ready to open up their wallets to buy Christmas presents are lectured by illiterate halfwits about where and how to spend their money. The usual demands: Buy local, or buy from small businesses. This is pure nonsense, and you should feel free to ... Read More
Economy & Business

Shopping Superstitions

It’s the boss-bossiest time of the year, when Americans getting ready to open up their wallets to buy Christmas presents are lectured by illiterate halfwits about where and how to spend their money. The usual demands: Buy local, or buy from small businesses. This is pure nonsense, and you should feel free to ... Read More
The Capital Note

Palantir’s Eye-Popping Rally

Welcome to the Capital Note, a newsletter about business, finance and economics. On the menu today: Palantir shares skyrocket, a giant of labor economics passes away, Slack in acquisition talks with Salesforce, and Yellen’s plans for Treasury-Fed cooperation. The Palantir Bump: Politics or Product? Palantir, ... Read More
The Capital Note

Palantir’s Eye-Popping Rally

Welcome to the Capital Note, a newsletter about business, finance and economics. On the menu today: Palantir shares skyrocket, a giant of labor economics passes away, Slack in acquisition talks with Salesforce, and Yellen’s plans for Treasury-Fed cooperation. The Palantir Bump: Politics or Product? Palantir, ... Read More
History

The 1620 Project

On November 11, 1620, the Mayflower arrived on the eastern coast of North America. She had weathered the slings and arrows of maritime misfortune for almost ten weeks at that point, but the passengers thought the discomfort of crossing a small price to pay for passage to the Promised Land. After all, these were ... Read More
History

The 1620 Project

On November 11, 1620, the Mayflower arrived on the eastern coast of North America. She had weathered the slings and arrows of maritime misfortune for almost ten weeks at that point, but the passengers thought the discomfort of crossing a small price to pay for passage to the Promised Land. After all, these were ... Read More
Media

Wajahat Ali, Ctd.

I gather he didn’t like my comment on his New York Times op-ed on the folly of reaching out to Trump supporters. He snipes, “I await The National Review’s piece on reaching out to Biden voters and reading about their ‘elegy’ and understanding their ‘economic anxiety.’” After the 2016 election, ... Read More
Media

Wajahat Ali, Ctd.

I gather he didn’t like my comment on his New York Times op-ed on the folly of reaching out to Trump supporters. He snipes, “I await The National Review’s piece on reaching out to Biden voters and reading about their ‘elegy’ and understanding their ‘economic anxiety.’” After the 2016 election, ... Read More
World

A Moveable Feast?

Last week a unique but apposite tribute was paid in Budapest to the late Sir Roger Scruton, the distinguished Tory philosopher who died earlier this year: A café was opened in his name. It goes under the designer label “Scruton—The Place to be” and is situated three blocks from the Hungarian Parliament at ... Read More
World

A Moveable Feast?

Last week a unique but apposite tribute was paid in Budapest to the late Sir Roger Scruton, the distinguished Tory philosopher who died earlier this year: A café was opened in his name. It goes under the designer label “Scruton—The Place to be” and is situated three blocks from the Hungarian Parliament at ... Read More