The trifecta of Immigration reform in Washington (with the president’s support) and two columns in today’s Register tell me there’s trouble in RedCountyLand.
The Register headline on the column is in itself extraordinary: Are Republicans the Party of Torture?Ã‚Â The evidence of rendition is well documented even without the photos from Abu Ghrahib. Click the link to read the story.
Even more extraordinary, John Stossel’s column on the “Spend Now/Pay Later” Republicans.Ã‚Â I always consider Stossel full of it and my Republicans friends are free to share this belief over this column too, but there are these two paragraphs that are hard ot argue with:
Some Republicans argue that deficits don’t matter; that if you cut taxes, everything else takes care of itself. But that’s a myth. Yes, the tax cuts stimulated the economy and increased tax revenue. It happens because, as the Laffer Curve illustrates, lower rates mean higher rewards for productive activities. People undertake investments and work that higher tax rates had discouraged. They are also less likely to invest time and energy in using accountants and tax lawyers to find ways to avoid taxes.
That’s all good, but there’s a downside to cutting tax rates without cutting spending. Deficit spending disguises the real burden of government. As a result, we get more than we’d want Ã¢â‚¬â€œ and that’s not good. Government makes up the deficit either by borrowing, which removes productive resources from private hands and must be repaid by future taxes, or by creating money out of thin air Ã¢â‚¬â€œ inflation Ã¢â‚¬â€œ which steals purchasing power from us by devaluing our money.
I note this because Stossel’s columns are forwarded to me on regular basis from my conservative friends.Ã‚Â Wonder if they are paying attention to this particular column.