Sunday, November 23, 2008

A Minor Victory

From James Pethokoukis' Blog at US News & World Report - here.

It now looks like Obama will not propose raising taxes next year, instead waiting for the end-of-2010 expiration of the 2001 and 2003 tax cuts. I guess this means he believes, on some level, that raising taxes hurts economic growth. So I guess it really was about "fairness" all along. I think every economic initiative for years to come will be graded according to whether or not it boost the economy . Go long "growth," go short "fairness."
Of course, this means the deficit will be even bigger. However, it does prevent further erosion in the economy. So in total, this is change that I can believe in.

Note - It also means that I was wrong on #3 of this post.

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