I like when I’m on the same side of an issue as Stephen Green. Here’s a bit of his open letter to Speaker John Boehner.
I’ll repeat: Give President Obama and the Democrats the tax hikes they demand, and which most polls show the American public accepts.
You’ll let us avoid the fiscal cliff — a phrase I’m going to do my best to avoid using from now on. A better phrase, if less elegant, might be, “the totally artificial fiscal construct engineered by our so-called leaders a while back, just in case they hadn’t already assed up the economy quite enough.” But I digress.
Give them the tax hikes. Look big, look magnanimous, look bipartisan. Be sure at every mention of the tax hikes to talk up the spending cuts and entitlement reforms Obama and the Democrats promised to talk about in a grand bargain down the road. Someday, whenevs, as soon as Obama gets his round tuit in the mail. The important thing is to change the subject.
This sounds a lot like where I am on the Taxpocalypse ruckus kicked up by Bill Kristol shortly after the election.
Barack Obama wants to raise tax rates a little? Give him the go-ahead to raise them as much as he wants. Let him double the rates on “millionaires and billionaires”. Let him increase the rates on the middle class (which will have to happen fairly quickly, by the way). Stand up and say, “America has spoken. President Obama’s desire to raise taxes and spend more money is clearly also the will of most of the voters. As he said, he won. we will help him achieve all his goals and put all his economic plans into place. We only hope that once you have seen the results of his foolishness you will consider us a viable option again”.
After that, let him do whatever he wants. Wait. Watch. Take careful notes of all the new taxes and what those taxes are doing to the economy. Talk to your new media outlets and make sure they all have solid numbers every single month. Run an ad every once in a while that simply notes the progress: Democrats raised taxes by X percent. They promised X amount of revenue. We have really gotten X amount of revenue. The economy has grown by X rate and we need it to grow by X rate. We have created X number of jobs and lost X number of jobs. The New Great Recession is X months old.
I’m not particularly eager to see the hammer fall, especially since I’ll be right there with the rest of the country when it does, but I’ve looked at this problem from every angle I can imagine and I don’t see a way around it. Better to prepare now to roll with the blow and pop up with a crippling counter-attack than waste our energy trying to block a punch that’s going to blow through our meager defense no matter what we do.
Category: The Economy and Your Money