Tuesday, January 22, 2008

Must-Read Editorial of the Day

Tax cuts are the best stimulus

If somebody grabbed your wallet and then handed you back a $20 bill, would you be grateful? Realizing the money was yours to begin with, you would probably call the cops rather than thank the thief.

President Bush’s latest gimmick to stimulate the economy by giving back to taxpayers $800 of their own money is the Washington equivalent of the “generous” thief. The biggest fairy tale in Washington isn’t Barack Obama’s voting record on the war in Iraq, but the notion peddled by Republicans and Democrats alike that the government has a big pot of its own money that it generously gives to people by “injecting” it into the economy as a stimulus.


In a nutshell: The best way to help people in trying economic times is to let them keep more of the money they earn, rather than grinding, seasoning, and extruding it through the pork processing plant we call the United States Congress.

The fact that your average fourth-grader can figure this shit out goes far in explaining why those in Washington seem to be having so much difficulty wrapping their severely atrophied brains around the subject.

(link via Glenn Reynolds)