A Comment I Posted

Over at Brad DeLong’s, on the effects of the Bush tax cuts:

OK, so the effects of the tax cut are not what the Republicans said they would be. It isn’t about creating jobs, etc.

With everything Republicans SAY these days, you have to put your hands over your ears, and look at the effect of their ACTIONS to discern why they are doing something. What they SAY is just a smokescreen – a diversion. The EFFECT of these tax cuts is that the government has to borrow perhaps $400 billion this year, and maybe even more, and continue to do this every year from now on. This means we won’t be able to pay Social Security, Medicare, or do anything else the government needs to do. And it means we’ll instead be paying out massive debt interest checks to … well guess who! (Over $300 billion interest payments this year.)

Maybe what the tax cut DOES is why they DID it.