Tax Cuts: The Case for Gradualism

The “Prince of Darkness,” a.k.a. Bob Novak, the late columnist, once opined that: “God put the Republican Party on earth to cut taxes. If they don't do that, they have no useful function.” Pat Buchanan, another “right-wing” columnist, took issue with Novak’s view of the GOP in “Why God Created the GOP” and opined that “to be historically precise, the GOP was not put here to cut taxes. From infancy in the 1850s, its mission was to halt the spread of slavery.” Buchanan then launched into an elegant little history of taxes under Republicans from 1865 to 2012 that, given the current push to cut income taxes, is quite worth reading. The article pretty much refutes Novak’s claim. Maybe Novak was just being overly broad, “talking big” to make a point. In any event, I miss old Bob; he was an old-school gentleman, despite being the Prince of Darkness and all. One can understand why Mr. Novak might...(Read Full Article)

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