Ladies And Gentlemen: The Party Of Ideas
Erick Erickson shows us the kind of fresh new thinking that I have come to expect from the Republican Party:
“The most radical, and effective, thing we could do for the economy right now is this: Stop collecting all forms of Federal business, income and payroll tax. EVERY PENNY OF IT. RIGHT NOW.
Gasp! Yes, I said it, and I meant it. Go on an absolute, 100% Federal tax holiday. That’s a real shot in the arm that would suddenly inflate the economy by a solid $1.5 trillion or more per year.
Are you worried about the resulting fiscal deficits? Don’t be. There is a huge amount of demand for debt from global investors, and the credit crunch has blown a huge hole in private debt formation. That leaves a lot of room for the government to borrow more.”
That certainly is a radical proposal. But “the most radical thing we could do for the economy”? I don’t think so. If we really don’t have to worry about deficits, Erick’s proposal seems pretty small-bore. Why not help Americans deleverage by having the government buy up all individual and corporate debt? That would help get the economy moving again! Why not provide health insurance for everyone, along with Supertrains, flatscreen TVs, living room suites, and a lifetime supply of chocolate? And why hasn’t he mentioned this to his co-bloggers at RedState, so that they can stop writing things like this?
“Do the Blue Dogs care about balanced budgets? Do they oppose wasteful spending? Are they the taxpayer’s best friend, the conscience of the Congress, and the moderates who craft bipartisan solutions? Today is the day to prove it.”
“A $789 billion spending bill, all of which will have to be borrowed and later repaid by our progeny, cannot possibly be “fiscally responsible.””
It’s almost as though the people at RedState are applying, well, a double standard: they care about fiscal responsibility when it comes to spending money to build schools or fix bridges, but all that concern just flies out the window when it comes to tax cuts.