Friday, August 22, 2008

The Other Side of the Coin..

As a follow-on to the Obama post the other day (the worshipful one), I came across this Hubbard piece in the WSJ yesterday: We Can't Tax Our Way Out Of the Entitlement Crisis.  His applauds Obama for moderating the degree of some of his planned tax increases (particularly the retreat from a fully-uncapped payroll tax), but points out that the revenue that would be brought in by his current tax increase planns, when combined with his unwillingness to consider benefit cuts, leaves us only someone less screwed then our current path. 

In other words, he has not put forward any plan to address Medicare (and its less-challenging fellow traveler, SS) growth explosion.  (Then again, I don't think anyone thinks McCain has any plan where the numbers add up, either.)

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