Megan McArdle at the Atlantic Monthly details some economics involving the Bush tax cuts, which have effectively been demonized by Obama.
Whatever your opinion of the Bush tax cuts, it is indisputable that they made our tax base more progressive: the rich and very rich now pay a higher percentage of the total tax take than they did before Bush took office. That has dire implications for the budget for the next few years.
It’s an enlightening read. I like reading Megan. Anyone who’s familiar with her knows she doesn’t toe a party line.
