Tag Archives: deficit

Nate Silver to Republicans: Raise Taxes

Esquire: Nate Sil­ver to Repub­li­cans: Raise Tax­es

For Repub­li­cans, rais­ing a few tax­es may be good pol­i­cy and good pol­i­tics. We are now on the verge of the longest peri­od since the cre­ation of the income tax with­out an increase in what the wealth­i­est tax­pay­ers pay — fif­teen years, match­ing the no-new-tax­es inter­val from 1952 to 1966. Mean­while, even the White House’s own fig­ures project sev­er­al tril­lion dol­lars in deficit spend­ing over the next decade, which would great­ly exac­er­bate the rough­ly $10.6 tril­lion in debt that Barack Oba­ma inher­it­ed from the Bush admin­is­tra­tion. Deficits are once again hot news. An NBC/Wall Street Jour­nal poll con­duct­ed in June found that 24 per­cent of Amer­i­cans regard the fed­er­al bud­get deficit as the top eco­nom­ic pri­or­i­ty — the high­est frac­tion since mid-1994, when Clin­ton raised tax­es. And even in these dire eco­nom­ic times, Amer­i­cans seem will­ing to make some sac­ri­fices to pay the debt down: 58 per­cent said they care more about par­ing the deficit than stim­u­lat­ing the econ­o­my, accord­ing to the same poll.

[…] In April, 51 per­cent of wealthy vot­ers told Gallup their income-tax bill was about right or even too low — “one of the most pos­i­tive assess­ments [about tax­es] mea­sured since 1956,” Gallup report­ed.

[…] Although rais­ing tax­es — or at least not try­ing to cut them — has been anath­e­ma to Repub­li­cans since the Rea­gan era, it hasn’t always been so. Richard Nixon and Dwight Eisen­how­er both large­ly resist­ed calls to cut tax­es (Eisen­how­er slashed the top tax brack­et all the way from 92 per­cent to 91), choos­ing to focus on deficit reduc­tion instead. Both were elect­ed to sec­ond terms.

I’d actu­al­ly con­sid­er vot­ing for a Repub­li­can that would do this.

It’s more or less clear at this point that inflat­ing the deficit isn’t a par­ty thing. I actu­al­ly hope Oba­ma reneges on his promise not to raise tax­es; it seems like the finan­cial­ly respon­si­ble thing at this point.