Columbia economist Jeffrey Sachs this morning on MNBC’s Morning Joe repeatedly uttered this tired liberal refrain:
Tax the rich.
Former-conservative Joe Scarborough tepidly challenged him by declaring “we can’t tax our way out of this,” to which the brilliant scholar replied:
Oh, yes we can.¹
I’ll say it again: It takes deep thinking and a lot of hard work to reduce the size of government. Left-wing ideologues like Sachs clearly don’t want to think that deeply or work that hard, so, instead, they propose confiscations of wealth from specific classes of Americans that will increase, rather than decrease, the size of government.
It is simply outrageous that supposedly intelligent people like Mr. Sachs cannot recognize a vicious cycle when it spirals upward and smacks them in the face:
When the only remedy for a budget deficit is the expansion of government through increased taxes that expansion becomes permanent.² And, since future new programs will require new money, that new money must come from – you guessed it - increased taxes.
Anyone with an IQ of greater than 80 could bombast the “conclusion” that we can “solve” our deficit problem by forcing citizens to give more of their money to the government, but intellectual elites like Jeffrey Sachs should be able to give us something more thoughtful and nuanced.
¹ Reminds me of the argument I had with a childhood friend of mine when we were six years old – “Am not. Are too. Am not. Are too.”
² If you don’t favor cost cutting as an approach to budget control, every increase in government must be permanent.