Flat Tax and Price Stability

This morning, economist Arthur Laffer has written an outstanding laundry list of items conservatives in the House must address. The most important is the extension of the Bush tax cuts. Laffer says “If the Senate blocks this legislation or Mr. Obama refuses to sign it, House Republicans should hold firm and let voters decide in 2012. (My guess is that he’ll sign it or have his veto overridden.)” Laffer also throws into the conversation the oft forgotten estate tax. There is no more insidious and immoral tax than a tax on the death of a human being. What moral justification can be given for taking 50% of the wealth from dead Americans like the liberals in Congress would like to do? None.

Laffer also makes calls for price stability, a repeal of Obamacare, a flat tax structure (incidentally he cites Democrats’ proposals for flat taxes), a balanced budget amendment, and interestingly incentive pay for politicians. Laffer cites Michelle Bachmann’s proposal to repeal Obamacare. That’s heavy praise for the Congresswoman who many often talk about like a cook or wacko. She is not, but she is undeterred in her drive to protect the American constitution.

Bachmann has been a powerful leader in the Tea Party movement and her reelection was endorsed here on Richardcyoung.com. Bachmann even formed the Tea Party caucus in the House. Recently she had thought about changing the name to the Constitutional Conservatives Caucus, but decided to keep the Tea Party name as a show of strength against a hostile media who would love to jump on any indication the Tea Party may be fading away.

Bachmann’s consideration of the Tea Party as a group of constitutional conservatives is encouraging. Many in the House have lost their way and forget to view the constitution as the defining document and guide of their positions. Bachmann was recently defeated in her attempt to join the GOP leadership in the House by Jeb Hensarling. The congressman is known as a solid conservative, but it would have been nice to see Bachmann involved in the GOP’s decision-making process.

The House GOP leadership cannot be a repeat of the same failed policies that Americans witnessed during the Bush administration. The GOP leadership cannot lead with a “business as usual” attitude, or they risk losing the Tea Party, and quick.

GOP Revival? – E.J. Smith

As Peggy Noonan questions this morning, will the GOP govern like they have been elected to do, or will they fall back into their old ways of borrow and spend? It’s not enough to keep taxes low if you’re simply going to borrow the money to finance your spending.

Republicans do seem to have the President’s naivety going for them. As Noonan writes of the president “He reacted to the election’s outcome in a way that suggested he’s still in his own world, still seeing a reality no one else is seeing. The problem wasn’t his policies, but that he didn’t explain them well. It wasn’t health-care reform, it was his failed attempt to popularize it. His problem was that he was not political enough. He was too substantive, too serious. Americans have been under stress, and people under stress don’t think clearly, and so they couldn’t see the size of his achievements.”