Mallory Factor condones political pandering over leadership:
Americans do not want higher taxes … Most Democrats in Congress are ignoring the two-thirds of their constituents who want tax rates to stay where they are, voting consistently to raise taxes and using the procedural mechanism of the filibuster to keep automatic rate hikes looming over American taxpayers.
Never mind the fact that the Republican controlled Congress has no clue how to cut spending – so the question really is: tax me now or tax me later. Factor continues:
The current tax rates, on dividends and capital gains, in particular, but also regular income taxes, have been a stunning success, driving a robust economic recovery and pushing unemployment levels down to historic lows.
Hat tip to Mark Thoma for pointing out that Bruce Bartlett disagrees. I guess Bruce’s honesty on such matters is why he does not write for the National Review. Thank goodness, the New York Times has let him express his views.