Monday, August 02, 2010

Kill the cuts!

By Capt. Fogg

There seems to be a difference between the ultra right as represented by Ayn Rand disciple and 'free markets cure all ills' cult leader Alan Greenspan, and the ultra right as personified by the rabble rousing opportunists who feed the vernacular conservatives of America. Dilatory though he may be in admitting that free markets are no more free or self steering than a car without a driver, he's none the less not as retarded as people who claim to see Russia over the horizon, staple tea bags to their hats and shriek about tax increases they didn't get. He does, albeit slowly, question the ad hoc axioms upon which he bases his theories and thus, through doubt, he thinks, he learns, he changes.

Amidst the tumult of irate e-mails calling President Obama a liar for personally having raised the cigarette tax ( a tax is a tax, after all ) and a communist for unleashing THE BIGGEST TAX INCREASE OF ALL TIME, which actually is nothing of the sort, it's refreshing to hear Greenspan utter:
"I am very much in favor of tax cuts but not with borrowed money."

What he's dismissing is the lifeblood of Republican economic policy and has been at least since the Reagan administration: tax cuts pay for themselves. It's policy that along with a huge increase in government agencies, military spending and a war now having cost more that World War 2 was supposed to be paid for by tax cuts, but failed. It was paid for by borrowing from foreign sources with our independence as collateral.

A rational person must have noticed by now that it doesn't work and never has worked and virtually always precipitates a recession. An irrational man, a Fox man, a Conservative man, even a Libertarian man, chants liberaliberaliberal, constructs straw stuffed scapegoats and tries to distract us with fairy tales about the President's religion and parentage.

"The problem that we've gotten into in recent years is that spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous."

said the Former Federal Reserve Chairman on NBC yesterday. It's axiomatic in our new propaganda soaked world that fixing a problem is far less effective and more expensive than hiding it under foamy lipped hysteria, and so the tax cuts that were designed to expire this year by the Republicans who wrote them into law, become a surprise betrayal by Obama. Those liberals are betraying us by following the law we wrote!

The tax cuts, that if renewed will cost us $2.2 trillion to $3.8 trillion over the next decade and put us that much further in debt, since no, they will not pay for themselves as has been demonstrated but will further impoverish the nation but to the benefit of a handful of people and corporations. But that debt must be thought of differently than any debt incurred in extending unemployment benefits and the glaring hypocrisy must never be acknowledged. For are we not conservative?

"You don't agree with Republican leaders who say tax cuts pay for themselves?"

asked David Gregory on Meet the Press.

"They do not."

was the emphatic reply.

(Cross posted from Human Voices)

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