08 March 2004

Taxes, the economy, the media

Atrios has one of his long comments on the state of the economy and our allegedly liberal media.
The Republicans predicted that the Clinton tax increases would bring on an economic armageddon. They didn't, but if the economy had tanked or failed to recover for whatever reason, in 1996 every Republican would have blamed it on the tax increases, because as we all know tax increases are bad for the economy.
no matter what happens with the economy this year, the media will never allow the narrative to be ''the Bush tax cuts caused the poor economy'' the way ''the Clinton tax increases caused the poor economy'' would have been the narrative in 1996 if it had been the case. Why? Because, ''we all know'' that tax cuts are good for the economy and tax increases are bad for the economy. The media has internalized this as a basic fact, even though there's no reason to think it to be true. The golden years of the US economy, 1945-1973, coincided with the period of record high top marginal tax rates.

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