Monday, August 02, 2010

Calling a Tax Increase Anything But

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Back in 2001 and 2003, George W. Bush pushed through tax cuts that were small in comparison to those that had been signed Reagan or even Kennedy. The Democrats and liberals around the nation whined about the fact that they would have to give back some of the money they were pilfering from the public. The people, you see, have no clue how to spend their own money so it was incumbent upon the government to spend it for them is ways deemed fit by our elected leaders.

President Bush was only able to get tax cuts across that were temporary despite pushing for permanency. So, alas, we have the end of the cuts approaching and the impending return of taxes to pre-Bush levels, which to anyone besides liberals would be defined as a tax increase.

Liberals are not in a collective good mood right about now, though. They have huge majorities in the House and Senate and have manged to push their Keynesian policies into the forefront to show that Keynes' ideas were vastly superior to Hayek or Friedman's hollow theories. They were going to prove once and for all that you can spend your way out of a recession and incur huge deficits while doing so because not only did Keynes say it would work, Paul Krugman did and he won a Nobel for economics and writes for the NY Times so he must be right.

Except, no one on the liberal side was right. Obama promised that if we passed the stimulus unemployment would top out at 8%. He would probably trade playing golf for unemployment to go below 9% or even 9. 5% at this point. They also said that the stimulus boondoggle would create (or the notorious unprovable metric "saved") millions of jobs. That has proven to be an epic fail in creating anything but job security for lobbyists, government employees and governors of states that signed disastrous budgets in the past.

Well, a funny thing is happening right about now: Democrats are about to be given a collective ass-whooping and they desperately are trying to tamp down any bad news that can be used by those damn racist Tea Partiers against them. They've suddenly found God with regard to the Bush tax cuts and are loathe to see them expire and have the same effect as a bottle of Roundup to the "green shoots" that are supposedly sprouting in the economy.

So today we see the full-blown "surge" against anyone trying to keep the cuts in place from Obama's old reliable media buddies. The NY Times and WaPo are rife with articles (one by a former Reaganite) effectively employing the Stalin/Hitler tactic of ensuring no retreat by shooting anyone who does. This is a clear shot across the bow of wavering Democrats that the MSM will not abide letting good, honest Americans keep any more money than they should.

President Obama has got two stock answers for anyone questioning his brilliant policies: racism, which oddly even they can't fit into this scenario or the second choose: class warfare. They are going hard with the former meme but are trying to work back around to the latter.

For the record, here's what the Bush tax cut elimination would mean for you.

At least we have the enjoyment of watching Keynesian economic theory blow up in the faces of liberals and may be able to put to rest the liberal hypotheses on deficits and recession recovery for good.

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