Sunday, July 12, 2009

Will 7/12/09

Higher Taxes Soon

My take on George Will's latest. His column was published in the Washington Post.

Summary: The government's intervention in the economy is costly and hurtful which means that those who think that economic improvement is based upon government intervention will want more and to pay for it government will have to raise taxes.

Economic policy, which became startling when Washington began buying automobile companies, has become surreal now that disappointment with the results of the second stimulus is stirring talk about the need for a . . . second stimulus.

My Views: This column is a short history of the stimulus policy. That this policy started with George Bush - with the support of John McCain - makes it a bi-partisan mistake. It hasn't worked. To really fix things will require a kind of thinking that the present government is unlikely to experience.

Taxes are going to go up. The tax code is going to get more complicated. And the IRS will have to emphasize enforcement as more Americans stop filing and go to non-traceable bartering. This is great news for us CPA's as it will mean more work for us. Yippee!

George Will almost didn't make it as a syndicated columnist. His style was considered too erudite for a general audience.

Whatever one thinks of his views, read his work for use of language and for how he marshals facts and uses logic.

Here's his Wiki bio.

His latest book is at the right.