Monday, February 23, 2009

Tax and Borrow and Spend

If the old-school Democrats were "tax and spend", and Bush was "borrow and spend", Obama is "tax and borrow and spend".

The maddening part of relying on higher taxes to mitigate the budget deficit is that doing so undermines the very justification Obama used to sell the stimulus bill. If stimulus is equivalent to spending, any attempt to take it out on the back end through taxes is anti-stimulative (or, "retardant" if you prefer, which now that I see it, I do prefer).

Keynes is rolling over in his grave.

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