12/10/2010

New Fox News piece: The Democrats Flip-Flop On Tax Cuts

This is how my latest piece starts out:

For years, Democrats have bashed Republicans over tax cuts. Tax cuts supposedly did nothing to encourage work and, thus, when President Bush cut tax rates across the board, it only lined the pockets of the wealthy.
This rhetoric repeated over and over for the last decade. But now President Obama's tax rate agreement is creating massive confusion among Democrats and many Senators will cast their vote tonight in contradiction to their previously stated positions.
In September 2001, a New York Times editorial summed up the received wisdom of Democrats: "the Bush tax cut wasn't designed to fight a recession."
The very same editorial noted that Larry Summers, presently Obama's chief economic adviser, also opposed Bush's lower tax rates as he claimed it wouldn't help the possible recession the economy was then suffering.
Well, that was then, this is now. On Wednesday, Larry Summers told reporters that failure to maintain the Bush tax rates "would stall [the economy] and we would have a double dip" recession. . . .


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