November 27, 2012
Elections Have Consequences
I'm going to say it, chaps (and chapelles): we lost. Et tu, jk? Scoot over Saxby, make some room Billy.
While I think it is morally, philosophically, economically, and aesthetically wrong to raise tax rates on producers and remain 100% against it, that winning message did not take back the Senate nor change the occupants at 1600 Pennsylvania. No, it was not that clear and not half that rational, but underlying the nonsense, limited government did not win.
Many important fights lay ahead on ObamaCare, implementation of Dodd-Frank, SCOTUS picks &c. Obstruction will be important for four years. Let's not die on this hill. Let the Bush rates expire for the top 2%.
The economic harm of another temporary solution or a default will be much worse than a bump in tax rates. Clever folk will quickly find their way around them. And the regime will own the economy as it were.
UPDATE: Bill Wilson emails: Stop the Republican sellout on taxes. Guess I have not convinced everybody yet...Politics Posted by John Kranz at November 27, 2012 1:40 PM