TAXES IN WONDERLAND….Life in Washington DC must be like life in Wonderland these days. Here’s the Washington Post on the current mood regarding tax cuts:
To be sure, Bush and most congressional Republicans, especially in the House, remain committed to cutting taxes as a guiding principle. Some leaders are considering pushing this year to extend some of the tax cuts enacted in 2001 and 2003, including those for capital gains, at the very least. But after cutting taxes aggressively over the past four years, a growing number say it would be unwise to reduce the amount of money the government is taking in at a time when bills for Medicare, Social Security and the Iraq war are piling up.
It might be “unwise”? That’s the best they can do? After spending the past three months screaming about how a 2% Social Security deficit 75 years from now is ruinous to the moral fiber of the nation?
Still, I guess I’ll take my common sense anywhere I can find it. Apparently even the idea of making Bush’s tax cuts permanent is running into trouble:
Senate Finance Chairman Charles E. Grassley (R-Iowa) said at least six Senate Republicans have signaled opposition to extending the cuts. “They could keep it from getting done,” he said. “But I think most people would like to make them permanent.”
I’ll bet he’s right. And we’d all like a visit from the tooth fairy too. But eventually we all have to grow up and work for a living. Even Republicans.