Friday, December 23, 2005

Krugman: The Tax-Cut Zombies

The Tax-Cut Zombies
By Paul Krugman

If you want someone to play Scrooge just before Christmas, Dick Cheney is your man. On Wednesday Mr. Cheney, acting as president of the Senate, cast the tie-breaking vote in favor of legislation that increases the fees charged to Medicaid recipients, lets states cut Medicaid benefits, reduces enforcement funds for child support, and more.

For all its cruelty, however, the legislation will make only a tiny dent in the budget deficit: the cuts total about $8 billion a year, or one-third of 1 percent of total federal spending.

So ended 2005, the year that killed any remaining rationale for continuing tax cuts. But the hunger for tax cuts refuses to die.

[. . . .]

In fact, even as Congressional leaders struggled to pass a tiny package of mean-spirited spending cuts, they pushed forward with a much larger package of tax cuts. The benefits of those cuts, as always, will go disproportionately to the wealthy.

Here's how I see it: Republicans have turned into tax-cut zombies. They can't remember why they originally wanted to cut taxes, they can't explain how they plan to make up for the lost revenue, and they don't care. Instead, they just keep shambling forward, always hungry for more.

Read the whole thing . .