More on David Stockman
Posted by JimPlease do not get the impression that I am completely opposed to trickle-down economics, the centerpiece of GOP tax policies under the post-1980 Presidencies. I recognize that our dynamic economy needs those with means and ability. Risk-taking is part of our national culture and without that I guess we might be like Switzerland or one of those other boring places.
The author of “Deliverance”, James Dickey, was interviewed a few years by the late William F. Buckley. The latter worked hard in the interview to bait the author into a discussion about taxing the wealthy. Mr. Dickey responded by saying society should be not be to hard on the losers but still at the same time reward the winners just enough.
Stockman’s article comes at a time when the debate over the expiring Bush tax cuts is beginning. Presumably Washington’s pols will duck the issue before the election. There will be rhetoric and bombast in huge quantities from both side but no one will be foolish enough to actually vote on the matter.
The debate, to be sure, will be interesting and perhaps be a proxy for just how much Obama’s stock has fared during his first two years. Those on left, many disappointed with the President, will have to check their ideology at the door if they expect anything meaningful to occur during Mr. Obama’s remaining time. Like their counterparts on the right, this has never been one of their strong suits.
