by Greg Krehbiel on 19 November 2012
I’m for lower taxes and lower government spending. Giving more money to Congress is like giving a drunk the key to the liquor cabinet. And I’ve always said it would be best to cut spending first, then raise taxes if necessary, because what Congress usually does is raise taxes now on the promise of future spending cuts — that never happen.
However, politics is the world of the possible. There are no perfect solutions, there are only trade-offs. And it seems to me that failure to address the country’s fiscal problems is a far bigger problem for business than increasing taxes would be.
Uncertainty is killing any chance of a recovery, and one big part of that uncertainty is a lack of confidence that lawmakers can come together and make a deal.
I think the Republican leadership has to say that they don’t want higher taxes, but if Democrats are going to be obstinate on that point then it’s better to get a half decent deal — that provides some certainty for business — than to keep stumbling along with patches and temporary measures.
-- 2012-11-19 » Greg Krehbiel