Tuesday, April 19, 2011

Alan Blinder in the WSJ--Reverse Robin Hood

It's hard to believe that any decent human being can take the Republican budget plan seriously. I posted earlier about the mean-spirited nature of Rep. Ryan's budget plan. This morning Alan Blinder, a professor at Princeton and former Vice Chairman of the Federal Reserve weighed in with his analysis of the plan--on the Wall Street Journal's editorial page. This doesn't mean of course that the WSJ agrees with Professor Blinder, but at least criticisms of the Ryan plan are now appearing in conservative outlets.

The nerve of the Republicans is shown by their pretending that the Ryan plan was the first proposal to deal seriously with the budget deficit. They have already forgotten the "bipartisan" Simpson-Bowles plan and the Domenici-Rivlin plan, both of which are much more comprehensive and serious approaches to dealing with the budget deficit (even if they are not what some of us would like them to be).

I hope that Americans finally wake up and see what the Republican Party (now that it has been captured or cowed by the Tea Party wing nuts) is trying to do. Surely American voters will not continue to act against their own economic interests. What we often fail to realize is that the US is a very low tax country. We can afford to do more for the less fortunate and for our infrastructure. Cutting taxes for the rich as the Republicans want to do is not the best thing for America's future.

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