Guess Who's Coming to the Inflation Hawk Dinner?
A certain famous liberal columnist.
8:35 AM, Mar 11, 2010 • By MATTHEW CONTINETTI
What few liberals and Democrats will say openly is that taxes must rise, and rise significantly, in order to pay for the welfare state. But the sort of tax increases required just to finance the government programs already in place would have deleterious effects on growth, employment, investment, innovation, risk-taking, and economic dynamism. These are real costs. And they wouldn't prevent Pelosi, Reid, and Obama's heirs from spending the additional dollar.
Government spending has emerged as a vote-driving issue. It's behind a lot of the resistance to the Obama health care plan. It motivates the Tea Party. One day soon -- maybe not in 2010, maybe not in 2012, but soon -- voters will have to decide which road to follow. As Obama likes to say, that's what elections are for.