[net-gold] UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY : INDUSTRIES: PETROLEUM INDUSTRY : POLITICS: ELECTIONS AND ELECTION CAMPAIGNS : TAXES AND TAXATION: The Problem with a 'No New Taxes' Pledge
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, Educator Gold <Educator-Gold@xxxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, Net-Gold <net-gold@xxxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports Tourism <healthrecsport@xxxxxxxxxxxxxxxx>, Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Sun, 4 Mar 2012 11:26:14 -0500 (EST)
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UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY :
INDUSTRIES: PETROLEUM INDUSTRY :
POLITICS: ELECTIONS AND ELECTION CAMPAIGNS :
TAXES AND TAXATION:
The Problem with a 'No New Taxes' Pledge
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The Problem with a 'No New Taxes' Pledge
Aug 3 2011, 11:49 AM ET
The Atlantic
http://www.theatlantic.com/business/archive/2011/08/
the-problem-with-a-no-new-taxes-pledge/243016/
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A shorter URL for the above link:
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http://tinyurl.com/78ozxoh
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The pledge was developed by Grover Norquist's organization Americans for
Tax Reform. A significant number of Republicans had signed on. This
resulted in many Republicans forbidding themselves from even considering
increasing taxes, even if they wanted to do so in the name of compromise
and fiscal responsibility.
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Why didn't they just break their promise? This question would be best
addressed to George Bush Sr. His 1992 loss is often blamed in large part
on his famous "read my lips" speech, where he promised not to raise taxes
only to do so anyway during his term. And that's okay: politicians should
be held to their word. But their word needs to provide some flexibility to
act when necessary.
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These sorts of pledges make for great campaign talking points, but they
also make the political process impractical. For example, imagine if
Democrats had taken a similar pledge where they promised no new spending
cuts. How would the debt ceiling talks have gone? The debt ceiling might
have been raised without any deficit reduction plan whatsoever, which
might seem like a nice outcome to anyone who is unconcerned about U.S.
debt trajectories. But the more likely result would have been Republicans
stubbornly refusing to allow the ceiling to rise. This may have led to
U.S. default, which would have sent the market reeling.
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The problem with sweeping, categorical pledges is that they eliminate the
government's flexibility to act. Consider the current deficit reduction
plan. Let's say we wanted to pay down the debt -- I mean really pay it
down, not cut a measly $2 trillion off spending growth over the next 10
years. Doing so would be extremely difficult without any new taxes.
Similarly, we'd have to raise taxes tremendously to achieve deep deficit
cuts without also reining in spending.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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