New Years Day 2011 - This should be fun!

Is it just me or is there far too little talk currently coming from the Right about the coming "Tax Tsunami"? In an article published yesterday, IBD details the impending massacre on your wallet. Allow me to summarize: fewer deductions for individuals, repeal of the demonstrably effective Bush tax cuts, more expensive medical supplies and services, and tax hikes for business owners. Lovely.

Not only is this fiscally scary stuff that should be combated on principle, but in an election year it's politically scary stuff the GOP needs to get on, and quick. In this recession, the people want jobs and to keep the money they earn. Despite what the Keynesians argue, reality demonstrates that repealing tax cuts and finding more ways to tax and spend (ahem, "stimulate" the economy) directly impede both of these objectives. Sorry, I simply don't believe the sign designating the repaving of the next 30 foot swath of Lake Shore Drive - a portion that had absolutely nothing wrong with it in the first place - facilitated any economic recovery or put "America back to work." 

Although we still have a few more months of small-ish government (relatively speaking), start planning an extra-special New Years' Eve now, while you can still afford it. On January 1, a bad hangover will be the least of your worries.