About three years ago, a Democrat congressman — I think it was Stark but I’m not sure, anymore — said he wanted to see the marginal tax rate raised to 90%.
That story quickly went down the memory hole. You can’t get re-elected saying stuff like that.
But now, the election is over, so the guards are being let down. This is why you can read Krugman today, recommending a 91% tax rate. It’s why you can hang out on Twitter late at night and watch Robert Reich deliver talking points about why the president should not try to put the brakes on anything, but should let us go over “the fiscal cliff.”
It’s interesting, almost amusing, to consider that the same people who said the banks and GM were “too big to fail” and who supported government bail-outs, do not think the economy is too big to fail.
Of course Obama is going to let us go over “the fiscal cliff.” Doing so will give him all the marbles, and he’ll get to blame the Congress, to boot.
The Obama administration could blunt the economic harm caused by the “fiscal cliff” at the end of the year by using its unilateral powers over spending and taxes, for instance, by freezing how much in taxes is taken out of payroll checks, according to former senior officials and other tax and budget experts.
Anyway. As you know — as I more or less spelled out last week — I am less interested in railing about this stuff, anymore, because it seems pointless to me. A die is cast, and it is what it is. We’re being prompted to look elsewhere.
Pat Archbold has a good piece on this; he too has figured out that the political “answers” are all-illusion and distraction.
As I wrote not too long ago:
…the Obama administration — the whole boiling of them, and Mrs. Pelosi, Mr. Reid and their posses and pals — have become so confident that a victory in this election means they will never again have to answer to anyone about anything, that in their heads, they’re already there.
An era is upon us that has been a long time coming. Let’s get past Thanksgiving, and then geer our Advent thoughts and prayers away from the headlines. Nations and ideals arise and then pass; only God is constant.
George Will: Answerable to no one
Msgr. Pope: A Call to Courage in a Climate of Crisis and Conflict