Paul Krugman - The Tax-Cut Zombies - NY Times 12/23/05

[Coastie for Truth]

If you want someone to play Scrooge just before Christmas, Dick Cheney is your man. On Wednesday Mr. Cheney, acting as president of the Senate, cast the tie-breaking vote in favor of legislation that increases the fees charged to Medicaid recipients, lets states cut Medicaid benefits, reduces enforcement funds for child support, and more.

For all its cruelty, however, the legislation will make only a tiny dent in the budget deficit: the cuts total about $8 billion a year, or one-third of 1 percent of total federal spending.

So ended 2005, the year that killed any remaining rationale for continuing tax cuts. But the hunger for tax cuts refuses to die.

Since the 1970's, conservatives have used two theories to justify cutting taxes. One theory, supply-side economics, has always been hokum for the yokels. Conservative insiders adopted the supply-siders as mascots because they were useful to the cause, but never took them seriously.

The insiders' theory - what we might call the true tax-cut theory - was memorably described by David Stockman, Ronald Reagan's budget director, as "starving the beast." Proponents of this theory argue that conservatives should seek tax cuts not because they won't create budget deficits, but because they will. Starve-the-beasters believe that budget deficits will lead to spending cuts that will eventually achieve their true aim: shrinking the government's role back to what it was under Calvin Coolidge.

Very good discussion of David Stockman's "Starve The Beast" rationale for deep tax cuts.

[Demeter]

1. They Are Gluttons, Not Zombies

Those who benefit from tax cuts will never have enough dough to satisfy their greed--the zombies are those who feel that feeding the gluttonous is a good thing.

[BlueEyedSon]

2. last 3 'graphs.....

In other words, the starve-the-beast theory - like missile defense - has been tested under the most favorable possible circumstances, and failed. So there is no longer any coherent justification for further tax cuts.

Yet the cuts go on. In fact, even as Congressional leaders struggled to pass a tiny package of mean-spirited spending cuts, they pushed forward with a much larger package of tax cuts. The benefits of those cuts, as always, will go disproportionately to the wealthy.

Here's how I see it: Republicans have turned into tax-cut zombies. They can't remember why they originally wanted to cut taxes, they can't explain how they plan to make up for the lost revenue, and they don't care. Instead, they just keep shambling forward, always hungry for more.

[MissMarple]

3. "tax cut zombies....shambling forward, always hungry for more" Priceless.

That is an absolutely priceless description of the wingnut mindset. :applause:

[Paranoid Pessimist]

4. Here's the Whole Krugman Article

http://www.topplebush.com/oped2415.shtml

Thanks to topplebush.com for posting these things that people like me are unwilling to pay the New York Times to read.

[yurbud]

5. attack GOP core beleifs: tax cuts, dereg,

Privatization...all have one thing in common--they are symptoms and direct evidence of profound corruption.