The takers gone wild

Tax Haters Figure Out They're Screwed - Jonathan Chait, NY Magazine

 

“The Journal editorial page invented supply-side economics more than 30 years ago, and it remains the ideological headquarters of I’d-rather-cut-off-my-testicles-than-raise-taxes-on-the-rich conservatism. Today’s Journal editorial complains that Obama is demanding more revenue than he was asking from Boehner in last summer’s debt-ceiling hostage negotiation. Why is Obama taking such a tough line? The Journal speculates  ‘He really doesn't care if there's a budget deal this year that avoids the tax cliff. By taking an absolutist line, he's basically gambling that Republicans will be more reasonable than he is and will blink. But if they don't blink and we go over the cliff, from his point of view so what? Mr. Obama then has an excuse to blame Republicans if there's another recession. Meanwhile, he pockets the higher tax rates that take effect on January 1 anyway, and he can then negotiate a budget deal next year without having to make any tax concessions’

Well — pretty much, yeah.”

 

So over the cliff we go.  Once people realize the impact, we will all be tax haters. But then it will be too late. Smile, billions know how to live in the third world, we can do it. Or maybe we can cut all federal funding and sit on it for two years, It can’t be any worse. That would be ironic if all the funds were flowing in and they weren’t able to spend any.

 

Speaking of “cut-off-my-testicles”, there may be some who will be after Jonathan to do just that when they realize how screwed they are. The media which has sold this will be reasonable targets.