Bruce Bartlett says taxes must be increased
And asks an interesting question:
Taxes have to increase. Do you want Democrats at the helm when they do…The package will have to reduce the deficit by at least two percentage points of GDP annually to meaningfully affect financial markets and restore confidence, and it is unrealistic to think that this can all be done on the spending side. Therefore, taxes will be on the table. Voters need to ask themselves which party they prefer to manage this process when the time comes.
This op-ed is surprisingly honest coming from the NRO.
Let me suggest a voter’s guide as to how one might address this question. If one derives most of your income from capital, then re-electing Bush-Cheney means less of the tax burden will be placed on you. If one derives most of your income from labor, then re-electing Bush-Cheney means more of the tax burden will be placed on you.