Jonathan Chait notes that Matthew Continetti blames higher Obama-era taxes -- taxes that have no actually happened yet -- for the economic performance of the last couple of years. Nice catch!
However, I invite Chait to review my post on GOP economics, explained, so he can understand that all economic growth is a direct result of tax cuts; all recessions are caused by tax increases. In this case, no doubt the recession that began in late 2007 was caused by concern that President Obama would impose steep tax hikes taking effect in January 2011.
Wednesday, September 29, 2010
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You have read Chait's book The Big Con, right?
ReplyDeleteA generous reading of Continetti is that he meant that liberal doctrine prescribed the stimulus etc, those have failed, therefore you shouldn't trust its prescription for raising taxes on high earners. He didn't write very clearly, but his point wasn't as bad as you (and Chait) make it sound.
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