Comments on: Its A Spending Problem http://hispanicpundit.com/2010/07/15/its-a-spending-problem/ Sun, 12 Feb 2012 07:17:37 +0000 http://wordpress.org/?v=2.3.2 By: LaurenceB http://hispanicpundit.com/2010/07/15/its-a-spending-problem/#comment-243324 LaurenceB Fri, 16 Jul 2010 16:09:55 +0000 http://hispanicpundit.com/2010/07/15/its-a-spending-problem/#comment-243324 Just two quick notes: First - Why does the WSJ article refer to "peacetime spending". This is not peace time. In fact, we are fighting two quite expensive wars. (If Netanyahu has his way, and Palin gets elected, maybe three.) While it is very kind of the WSJ to let us know that in 2020 we are projected to have a high tax rate for peace time, it would be much more relevant to know either a) What was the record high tax rate for war time? Are we anywhere close to that? or b) How would ending the wars in Iraq and Afghanistan in 2012 effect the projection of tax rates in 2020? Second - It's interesting to note that the WSJ never actually says exactly what are <i>today's</i> tax revenues as a percentage of GDP. Are they historically low or historically high? Is it unfair of me to suspect that the conspicuous absence of this very relevant data probably means that it would make the WSJ anti-tax stance look bad - and that we just might learn that right now tax revenues are not historically high at all? Just two quick notes:

First -

Why does the WSJ article refer to “peacetime spending”. This is not peace time. In fact, we are fighting two quite expensive wars. (If Netanyahu has his way, and Palin gets elected, maybe three.)

While it is very kind of the WSJ to let us know that in 2020 we are projected to have a high tax rate for peace time, it would be much more relevant to know either a) What was the record high tax rate for war time? Are we anywhere close to that? or b) How would ending the wars in Iraq and Afghanistan in 2012 effect the projection of tax rates in 2020?

Second -

It’s interesting to note that the WSJ never actually says exactly what are today’s tax revenues as a percentage of GDP. Are they historically low or historically high? Is it unfair of me to suspect that the conspicuous absence of this very relevant data probably means that it would make the WSJ anti-tax stance look bad - and that we just might learn that right now tax revenues are not historically high at all?

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