I love this Power Line post by Stephen Hayward on the GOP and taxes. There is a good case to be made for tax code reform that would raise taxes slightly on the nearly half of all workers who don’t currently pay any taxes in exchange for large spending cuts that would increase those same people’s earnings (and career opportunities) though a turbo-charged economy. I firmly believe that a substantially-smaller budget (and I’m thinking about a trillion less a year until we get down to about 18.5% of GDP) would push our economy into growth rates at or above 5 percent for a couple years.
Optimistic? Sure, but we could use a heavy dose of optimism right about now. Besides, I still feel that our economy is straining to burst free and we only await that one crack in the dykes that have hemmed us in. Once that crack is apparent, we can widen it more and more until the economy is flowing freely again.
And perhaps tax reform of the kind Hayward envisions till be a key part of that.
And now, links!
- Uh oh, Attorney General Holder! The Los Angeles Times has finally noticed Operation Fast and Furious. From little pebbles, mighty administration-burying avalanches grow.
- Man, that Chrysler bailout worked out really well. Okay, not for us taxpayers, but for Chrysler and the union bosses, it was like Christmas.
- Are the United States and Michael Jackson’s career arc similar? In an odd way, yes.
- We always knew the President liked campaigning more than he liked governing. We know this because he’s spent most of his career campaigning and almost none of it doing any real work.
- Joy McCann wrote a great post on renewable energy and the fracking controversy in New York. I’d add that the real problem with renewable energy is that what we have simply won’t supply our energy needs no matter how much we spend to deploy it. If we’re going to dump cash into renewables, it needs to be in R&D so that we can develop the sources that can meet our needs.
- Okay, I think I’m going to have to see Captain America now.
- I’m sorry, Pluto. Those mean IAU snobs won’t let you be a real planet again no matter how many moons you have.