Yglesias Award Nominee

Aug 14 2011 @ 9:42pm

"[I]n 1982 Ronald Reagan was willing to sign what was then the largest tax increase in American history (TEFRA) because he believed he’d get three dollars in cuts for one dollar in tax increase. Reagan came to regret his tax increase — but not because the ratio was wrong but because Democrats never delivered on the spending cuts. If Reagan had gotten the cuts he asked for — and the York/Baier question pre-supposes the spending cuts would be real – he would have taken that deal. Are Republicans in 2011 saying that a deal that would be far better than one Reagan expected and agreed to is simply beyond the pale? If so — if taxes cannot be raised under any circumstance — then we have veered from economic policy to religious catechism," – Pete Wehner.