Thursday, December 10, 2009

Is This What Passes For Fiscal Conservatism?

When I read Stephen Ohlemacher's article on the Federal Congress's recent tax package, I came to a section where I had to do a double-take. Sure enough, what I thought I read was, indeed, actually what I read. It was this:

President Obama supports the tax package, including the tax increase on investment managers and the crackdown on international tax havens.

Democrats argued in favor of the tax increase, saying Wall Street financiers shouldn't be taxed at a lower rate than workers making less money.

Republicans argued that the tax increase would reach far beyond Wall Street, hitting real estate investment funds across the country. Instead, Republicans said, the tax breaks should be financed by federal borrowing, increasing the budget deficit.
I thought Republicans were chastened about deficit spending and are basing their whole opposition to Obama's fiscal policy largely on the expansion of the federal debt. What gives? Is this something that Republicans actually said? Or is Ohlemacher just making all this up?

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