As media predictably pound the table for Congress to allow the Bush tax cuts to expire, an interesting analysis by Washington Post contributor Robert J. Samuelson should raise a caution flag.
Higher taxes inhibit couples from having children which in other developed nations has led to longterm economic paralysis.
In a western civilization that got drunk on entitlement programs in the previous century, population growth is essential as all of these schemes have a Ponzi component to them: they only work if you continually have new people entering the system to pay for those collecting benefits.
As Samuelson outlined in the Post Monday, our federal income tax structure is quite at odds with our best interests as a nation:
During the recently completed presidential campaign, Newsweek's Michael Isikoff was all excited over his "web exclusive" piece on staffers with the McCain campaign that had connections with past lobbying efforts. Back in those days Newsweek was all about the evils of those darn lobbyists. For their part, Obama supporters at the time ballyhooed the pledges that Barack Obama had made stating that his was going to be a kinder, gentler campaign, one that chased those evil lobbyists away. Phooey on those lobbyists, became the popular mantra. But, now that The One has made a successful and historic run for the Oval Office, Newsweek has suddenly discovered a newfound respect for that most venerable and important institution of lobbying.
That's right, folks. Now lobbyists are "democracy in action" and as American as apple pie, dashikis and bailouts. According to Newsweek's Robert J. Samuelson, if you are down on lobbyists, why, heck, you're down on America itself!
This is, of course, quite a different attitude than Newsweek took when using its pages to beat down John McCain. In September, connections with lobbyists were enough to bring down a presidential candidate, yet by December they are the epitome of "democracy in action." That is quite a head-spinning turn around, wouldn't you say?
It appears hell hath frozen over, for a Newsweek contributing editor published an article Saturday extraordinarily critical of his magazine's cover story last week about "global-warming deniers" being funded by oil companies in an organized scam to thwart science.
In fact, Robert J. Samuelson accurately noted how "self-righteous indignation can undermine good journalism," and that this disgraceful article was "an object lesson of how viewing the world as ‘good guys vs. bad guys' can lead to a vast oversimplification of a messy story."
Fortunately, Samuelson was just getting warmed up (emphasis added throughout, h/t Marc Morano):