We are the Future
by Tom Donelson on December 11, 2010 at 6:34 PM
The month of December have been an incredible month as we find ourselves living in interesting times, beginning with a bipartisan budget committee that recommended lower marginal tax rates on individuals and businesses, reformed and cut entitlements, and called for limiting government spending as part of the general economy.
Then we had a debate in which Obama had to reject his own class warfare to design a tax plan to stimulate the economy and foreclose any chances for a double dip turn down. And while Congress negotiated whether to keep tax rates where they are, Sarah Palin gave her support for the Paul Ryan Roadmap, the Republican alternative to put American on fiscal health.
A new consensus is being form that is isolating the political left and its begin with marginal tax rates matter. Between Ryan's roadmap and the budget commission plus every proposal in between, everyone is in agreement that tax rates need to be lower and a tax system that emphasizes lower marginal rates along with reduced deductions to allow a more market approach as opposed to the government using the tax system to pick winners and losers.
Another aspect that is now becoming the new consensus is that government takes too much of a share of our economy. From the budget commission to the Ryan roadmap, there are coherent plans to reduce government role in the overall economy from its present levels. Between the budget commission to the Ryan road map, there are detailed ideas to reduce entitlements liability upon future generation, adding agreement to reducing spending while liberating future generations from throttling commitments that they can’t bear.
As the recent tax debates have shown, the Democratic left doesn’t understand our economic system or simply doesn’t care how or if wealth is even created. As I have stated before, it is the Democratic left that stands against the new consensus and Republicans should keep in mind that history is now on their side as modern day Keynesian economic theories have collapsed. No serious economist can defend the Obama approach over the past two years after witnessing its utmost failure.
For Republicans, the key over the next two years will be to isolate the left while proposing plans that emphasize tax reforms and serious budget cuts based on the Ryan road map as well as some of the ideas put forward by the Budget commission. Force Obama either to surrender to a more sound policy and isolate Pelosi's wing of the Democratic Party, which is the largest remaining segment of the Party left after the massacre of the 2010 elections.
The political left is the minority in American Politics, treat them as such.