Until recently, our great, wrenching, economic debate has been focused on whether a whopping 4.6% increase in tax rates on incomes over $250,000 would undermine the American work ethic, shred the nation’s the moral fiber, and constitute the “Second Coming of Socialism”.
Now, with the passage of the tax cut extension, providing us a harrowing, last-minute, reprieve from such a fate, we face another monumental debate about the proper size of government – with the difference, again, being a whopping 4%. Conservatives think government should spend no more than 18-19% of GDP. Liberals about 22-23%.
At this point, right-wing economic policy is becoming farce.
The reality is that people who advocated for small government really want government big enough to help me, too small to help you. Just as they view socialism as when government helps someone else.