Paul Krugman of the NY Times has once again (sorry, Times Select subscribers only) reamed the current administration. I love the fact that there are so many different ways in which the current administration sucks. I mean, we’ve got the war in Iraq, the fiscal irresponsibility, the invasions of privacy, the outright profiteering from the office, and so on. Today’s column focuses on the budget:
it [the administration] created fictitious savings by “sunsetting” the tax cut, making the whole thing expire at the end of 2010.
This was obviously silly. For example, under the law as written there will be no federal tax on the estates of wealthy people who die in 2010. But the estate tax will return in 2011 with a maximum rate of 55 percent, creating some interesting incentives.
I suggested, back in 2001, that the legislation be renamed the Throw Momma From the Train Act.
I really need to not read the news. It’s so depressing.
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