Monday, June 20, 2005

News That Won't Make the NY Times

The one secret you can be sure the MSM can keep is when a sound economic policy succeeds. Published in today's Opinion Journal from The Wall Street Journal Editorial Page is this report of the results of the 2003 dividend and capital gains tax rate cuts. The Laffer Curve is vindicated again, but don't expect the partisans on the wrong side to admit it. They will gladly accept the revenue (as will the spendthrift Republicans), but blame the President for it not being enough money and being as much as if he had raised the tax rates.

Will the Administration proclaim success and use these results to repeal the 2008 expiration date on the rate cuts? One can only hope it isn't so dim-witted that it throws away this sparkling opportunity.

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