“Do you want to know what lives longer than a vampire?” … “What?” … “A one-year tax cut.” OK, I know it’s not great humor, but at least it’s wry humor. How can one not at least chuckle at the sight of D.C. pols of both parties arguing over how to pay for the extension of the “one-year” payroll tax cut that generates about $20 a week for most of us.
The debate is all skewed; we need to get rid of the payroll tax cut. Memo to pols: If you want to get Americans to save $20 a week, have them cut down on fast food. If we’re not serious about ending a one-year-tax cut, we’ll never get entitlement spending under control. By the way, when did fiscal conservatism end?
I see the payroll tax cut comedy as one scene in a feckless farce that will end with a value added tax of 30 to 40 percent that will pay for the great brave new welfare state that we’re all heading toward. It’s not very funny when comedies turn into tragedies. For more of the farce, read.