Quote:
Originally posted by Brad DeLong
First, can we please please please please please please PLEASE!! stop talking about Bush's "tax cuts." There are no tax cuts. There's a tax shift--current taxpayers pay less, and future taxpayers pay more. Only by pretending that nobody has to service and amortize the growing federal debt can you talk about Bush's "tax cuts." They aren't there, any more than a $5,000 increase in your VISA limit is an increase in your income.
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Can we get a ruling on this from the GOP side? I'm sure the answer is that we'll outgrow the shortfall because of all the really cool growth that's gonna happen, but given that the GOP ideal tax rate is 0%, how does the GOP rhetoric assure that it's not overshooting the mark on expected growth? I've never heard Bush say, "This much tax relief, but after that it starts getting stupid."
