December 5, 2007

Couldn’t Help But Notice (120507)

Dennis Prager says that Boomers owe America’s young people an apology. Prager’s regrets go to education, abortion, and other cultural matters. The real list of things that should be apologized for is so long that he doesn’t even get to the financial part.

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In a subscription-only op-ed in today’s Wall Street Journal, Martin Feldstein, chairman of the Council of Economic Advisers under President Reagan and currently a Harvard prof, advocates a tax-cut stimulus if the economy heads downhill:

What’s really needed is a fiscal stimulus, enacted now and triggered to take effect if the economy deteriorates substantially in 2008. There are many possible forms of stimulus, including a uniform tax rebate per taxpayer or a percentage reduction in each taxpayer’s liability. There are also a variety of possible triggering events. The most suitable of these would be a three-month cumulative decline in payroll employment. The fiscal stimulus would automatically end when employment began to rise or when it reached its pre-downturn level.

That’s an interesting idea, because it a) is logical, and b) if conditions do deteriorate (I’m not at all convinced that they will), it would put a tax cut into place in diametric opposition to the plethora of taxes the Democratic nominee will be campaigning to put into place. Voters will be more likely to note the disconnect.

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Michelle Malkin’s takes onHillarycare for the Housing Market.” I don’t totally agree, but it’s well-argued. Does she ever sleep?

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John Boehner v. Jim McDermott — He came, he saw, he kicked McDermott’s butt:

House Minority Leader John A. Boehner yesterday achieved a definitive victory in his decadelong fight with a leading liberal Democrat who leaked an illegally taped 1996 telephone conversation among House Republican leaders.

The Supreme Court yesterday let stand a lower federal court’s ruling that Rep. Jim McDermott of Washington had wrongfully leaked the tape to two newspapers, contrary to House rules, and that Mr. Boehner could sue him for damages.

….. Lower courts have ruled that Mr. McDermott must pay Mr. Boehner $10,000 in actual damages, $50,000 in punitive damages, plus “reasonable” attorneys fees.

Determining legal costs has been set aside while Mr. McDermott, who has created a legal-defense fund to pay his expenses in the case, appealed the verdict and his claim of constitutional issues. Mr. Boehner submitted an affidavit in 2000 putting his attorneys fees at $530,000, but the appeals process is estimated to have raised his costs to about $800,000.

Cut the check, Jim, before the accumulated legal costs go into 7 figures.

You can tell the sore-loser New York Times isn’t happy, as its online story has pics of McDermott and Gingrich, but not the triumphant Boehner. The Associated Press must be in a snit too, as the AP coverage carried at the Times doesn’t mention Boehner, the guy who just won the lawsuit, until the fourth paragraph.

McDermott, a facilitator of illegal eavesdropping, is a far-left hero. Note the hypocrisy.

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2 Comments

  1. What we really need is a new tax system, but in the meantime we need real and permanent tax rate cuts now, not just the dinky kind like those of 2001-3. Temporary rate cuts and rebates to free-riders do nothing for the economy.

    Comment by Joe C. — December 5, 2007 @ 9:12 am

  2. #1, agree. 10% across the board applied to those who actually pay taxes would do the trick.

    Comment by TBlumer — December 5, 2007 @ 10:45 am

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