I was asked over the weekend why I had started saying that it seemed to me that the Right in America had re-adopted a form of "voodoo economics".
I don't think I knew that an economics editor from The Economist had written an article in August with this very title, and I link it here for future reference.
Update: Slate looks at how Gingrich's tax reform proposals are marginally different from those of the other Republicans. But it points out:
Every single candidate from the wacky Herman Cain to nice guy John Huntsman is running on the premise that taxes should be reduced relative to current policy, especially on high-incomes and on investment income. Gingrich is no exception to that rule as this chart based on Tax Policy Center analysis will show:
One respect in which Newt stands out from the pack somewhat is that essentially everyone's taxes go down at least a little under the Gingrich Plan. Most of the Republican contenders are currently preparing to raise taxes on a large number of lower income families who benefit from what are called refundable tax credits.But as the first comment following the article notes:
I don't think anyone really believes that Gingrich et al are even pretending to look after "the 99%". How can someone simultaneously shriek about the deficit, openly plot a bloody, senseless, and expensive war, and propose steep tax cuts for everyone? You would think that someone who wanted to shrink the deficit or take a bite out of the debt would keep both massive spending cuts and tax hikes on the table.
2 comments:
Great stuff Steve. You truly are an idiot
What a moron you are Steve. A first rate moron.
Unless the economy get going and creates jobs there's no hope, no matter what you think the gobinment can do about it.
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