Archive for December, 2010

Our Debt Crisis Matters

Tuesday, December 14th, 2010

On the surface, it seems valid for conservatives to be concerned primarily with lowering taxes. After all, less taxation means that people are able to keep more of what they earn – incentivizing new wealth production, job creation, etc. Of course, it’s ideal for tax cuts to be implemented in conjunction with equal cuts in spending; a point most conservatives (at least those outside the beltway) agree on in theory. However, the focus always seems to be more on taxes than spending. Sometimes, especially within the soundbite culture of politics, it’s hard to tell if people are even distinguishing between the two extremely different matters – which is highly problematic in and of itself.

I will always agree that it’s wrong to raise taxes during a recession. There’s no doubt in my mind that doing so will cause a great deal of suffering, and eventually lead to overall less wealth for the government to tax – sending us down the inevitable path to collapse that socialist policy necessarily leads to. However, unlike many fellow right-wingers, even including good libertarian friends of mine, I can’t get behind a compromise with Democrats to extend current tax rates when the proposal contains new spending. While I wholeheartedly support the extension of current tax rates as a stand alone issue, at this point in time with a serious debt crisis looming, said extensions need to be, at the very least, deficit neutral. (And deficit neutral they would be if voted on alone).

On the politics of this matter, I agree with Ken Taylor at Red State in his analysis of the current tax rate deal, and what the GOP must do when our new elects are sworn in: