« Spending, Taxation, and the Fiscal Cliff-Becker | Main | Meritocracy, Social Mobility, Intergenerational Mobility—Posner »

12/23/2012

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jim kirby

I think you mean "rescind the Bush tax cuts for anyone earning MORE than $250,000 a year."

Mark Hazelbaker

Judge, your comment is interesting and insightful. Do you believe that you would have to recuse yourself from a case dealing with the application of this statute if it came before the Seventh Circuit?

Terry Bennett

Jim - I think he means Obama's proposal would rescind the EXPIRATION of the Bush tax cuts for people making LESS than $250k.

Entitlements aren't going anywhere right now. It will take a Herculean effort to rearrange the way much of the country lives, having now come to depend on Social Security and Medicare, and there is no will to change that, among either the populace or the representatives thereof. The poor have voted themselves a pay raise, and they continue to have the votes to make it stick. That's a fight for another decade, after we endure a further measure of suffering.

I agree with Judge Posner that the best we can hope for is that the bureaucrats end up doing negligible harm and the economy heals on its own. I see no chance that government will help the economy. The Republican agenda is under heavy attack, and even appears contrarian and absurd on its face, but it is a necessary counterbalance to Obama's plan to spend us into oblivion. I can only hope that a compromise is reached and the government can once again return to irrelevance, letting us stabilize and grow not because of policy but in spite of it.

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