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Monday, February 23, 2004
Spoons questions Andrew Sullivan's "conservatism":
Now he's come out against the Bush tax cuts, and is proposing a tax increase.
(I suspect this is going to become a new feature here).
Well, let's see what Andy has to say...
I don't believe in the supply-side notion that cutting taxes boosts revenue so much that the cuts pay for themselves (although I do think they help stimulate economic activity). So what's the responsible thing to do? Ideally, I'd propose means-testing social security, raising the retirement age, ending agricultural subsidies and carving away corporate welfare. But none of that is likely to happen any time soon.
So I'm gradually moving toward the belief that we should propose some kind of temporary war-tax. Levy it on those earning more than $200,000 and direct it primarily to financing the war on terror. Put in a sunset clause of, say, four years. It may be time for some fiscal sacrifice for the war we desperately need to fight. And we need to fight it without creating government insolvency which, in the long run, will undermine the war. I don't love this idea; and I'm open to other suggestions. But it behooves us pro-war fiscal conservatives to propose something.
So, basically, Sullivan is refuting Laffer's supply-side theories. That's another debate for another day. I do agree with Sullivan's position on cutting corporate welfare, agricultural subsidies, etc. What bothers me, though, is his defeatist attitude. Andrew seems to be saying "Well, we can't do it the right way, so let's give in to the establishment thinking, and levy additional taxes on anyone above a certain income" (in this case, $200,000). That certainly does not reflect fiscal conservatism, does it?
I agree that spending needs to be reigned in. I believe that, in a second Bush term, it will be. But giving in to liberal confiscatory ideas is not going to accomplish anything except to grow federal cannibalization of GDP that much more. Deep down, I think Andrew knows this.
Labels: Archives_2004
.: posted by
Dave
9:44 AM
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