Sean's Blog

A Guide To Online
Opinion And Current Events

Sunday, June 19, 2005

From The Wall Street Journal's Opinion Journal:
Now we have overpowering confirming evidence from the Bush tax cuts of May 2003. The jewel of the Bush economic plan was the reduction in tax rates on dividends from 39.6% to 15% and on capital gains from 20% to 15%. These sharp cuts in the double tax on capital investment were intended to reverse the 2000-01 stock market crash, which had liquidated some $6 trillion in American household wealth, and to inspire a revival in business capital investment, which had also collapsed during the recession. The tax cuts were narrowly enacted despite the usual indignant primal screams from the greed and envy lobby about "tax cuts for the super rich."

Earlier this month the Congressional Budget Office released its latest report on tax revenue collections. The numbers are an eye-popping vindication of the Laffer Curve and the Bush tax cut's real economic value. Federal tax revenues surged in the first eight months of this fiscal year by $187 billion. This represents a 15.4% rise in federal tax receipts over 2004. Individual and corporate income tax receipts have exploded like a cap let off a geyser, up 30% in the two years since the tax cut. Once again, tax rate cuts have created a virtuous chain reaction of higher economic growth, more jobs, higher corporate profits, and finally more tax receipts.

This Laffer Curve effect has also created a revenue windfall for states and cities. As the economic expansion has plowed forward, and in some regions of the country accelerated, state tax receipts have climbed 7.5% this year already. Perhaps the most remarkable story from around the nation comes from the perpetually indebted New York City, which suddenly finds itself more than $3 billion in surplus thanks to an unexpected gush in revenues. Many of President Bush's critics foolishly predicted that states and localities would be victims of the Bush tax cut gamble.
New York City has a $3 billion surplus. My guess is that the left-leaning New York will create more bureacracies to spend this money instead of either paying off debt or having tax cuts.

Oh, this is brilliant:
Dear Senator _______________:

By his statements equating American treatment of suspected terrorists at Guantanamo Bay with the behavior of the evil regimes of Nazi Germany, the Soviet Union, and Pol Pot’s Cambodia, Senator Richard Durbin has dishonored the United States and the entire U.S. Senate. Only by a vote to censure Senator Durbin for his conduct can the U.S. Senate restore its dignity and defend American honor.

Senator Durbin’s comparison, sadly, is despicable.

U.S. Senators should be clear about the gravity of Senator Durbin’s comparison. Nine million innocent human beings were murdered in Hitler’s death camps, nearly three million perished in the gulags under Stalin, and more than one and a half million were slaughtered in the killing fields of Cambodia at the hand of Pol Pot. And while not a single terrorist has died in detention at Guantanamo, Senator Durbin sees fit to liken our American service men and women to the terrifying murderers of three evil despotic regimes.

Moreover, Senator Durbin equates the terrorist detainees at Guantanamo with the millions of innocent men, women, and children exterminated by the order of evil dictators. The fact that he did so as a high ranking member of the Senate on the Senate floor makes his comparison all the more shocking.

This moral equivalence isn’t just utterly false; it endangers the lives of our young men and women in the military because it arms every radical Islamist with the official-record words of a Senate leader to justify their war of terror against civilized people everywhere.
That's part of a form letter drafted by Newt Gingrich asking for a Senate vote on censure for Senator Dick Durbin.

Via Powerline.

Mark Steyn:
The senator from Illinois' comparisons are as tired as they're grotesque. They add nothing useful to the debate. But around the planet, folks naturally figure that, if only 100 people out of nearly 300 million get to be senators, the position must be a big deal. Hence, headlines in the Arab world like "U.S. Senator Stands By Nazi Remark." That's al-Jazeera, where the senator from al-Inois is now a big hero -- for slandering his own country, for confirming the lurid propaganda of his country's enemies. Yes, folks, American soldiers are Nazis and American prison camps are gulags: don't take our word for it, Senator Bigshot says so.

This isn't a Republican vs Democrat thing; it's about senior Democrats who are so over-invested in their hatred of a passing administration that they've signed on to the nuttiest slurs of the lunatic fringe. It would be heartening to think that Durbin will himself now be subjected to some serious torture. Not real torture, of course; I don't mean using Pol Pot techniques and playing the Celine Dion Christmas album really loud to him. But he should at least be made a little uncomfortable over what he's done -- in a time of war, make an inflammatory libel against his country's military that has no value whatsoever except to America's enemies. Shame on him, and shame on those fellow senators and Democrats who by their refusal to condemn him endorse his slander.
I wonder if any Democrats are ashamed of what Senator Durbin has said. As of yet, I haven't heard of one.