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My personal musings about anything that gets on my radar screen--heavily dominated by politics.

2007-04-24

Somebody Send A Memo To Charlie Rangel

His plan may be disastrous for the country.

Congress will have to steer carefully to avoid a shock to the economy as it strives to balance the budget by allowing tax cuts to expire in the next few years, economists say. . . .

Now, before you go rushing off to read the whole article, I should warn you that it's not very well written. In my, er, humble opinion.

Actually, to be fair, the way the article jumps from thought to thought and from dependent clause to dependent clause makes me think this article was probably the victim of a bad, or at least hasty, piece of editing.

Now,that said, here's the important graf:

Despite mixed evidence on the effects of the Bush tax, economists say, Congress should not allow them to expire all at once because the effect could be a $200 billion tax increase.

"Such a huge increase in tax revenue would have an enormous contractionary effect on the economy, likely precipitating a recession in 2011 or 2012," said Roger M. Kubarych, economist with Unicredit Bank.

The throwaway line about "mixed evidence" notwithstanding, 2011 or 2012 could be a bad year. And, as much as I would wish that to happen on the watch of "President Clinton" or "President Obama", the American people should not be forced to endure such a thing because it would play well politically.

Why was it a bad idea for disappointed Republicans to stay out of the 2006 election and let the Dems have control?

Remember that when you're tempted to write off 2008 because Mitt is a Mormon, Rudy is too liberal, and McCain is, well, McCain.
Posted by: Michael / 4/24/2007 12:05:00 AM

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