Read Their Lips, Visual Edition
Mollie Hemingway, Ed. ·
Jul 7, 2011 at 7:18pm
This is the exact same thing that Bill McGurn has written below, but in graph form. It's for the visual learners among us.
Everyone calling for the Republicans to cave on a tax hike should consult this graph immediately. It shows what happened the last time folks agreed to a deal of $1 in tax hikes for $2 in spending cuts.
The tax hikes happened. Not only did the spending cuts not happen, spending increases did.
But don't tell David Brooks.
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Comments :
Oct '10
Re: Read Their Lips, Visual Edition
Well, if spending cuts come first, I don't have a problem (with ending a few tax deductions, I mean). Short of Democrats regaining their super-majority I'm not sure if they could reverse a significant package, not before it went into effect, anyway.
I still say we should pick a percentage of GDP to take in taxes, and aim for that (18%-19% seems to be the current Republican consensus). Then, use spending caps to keep spending from growing out of control.