Wednesday, September 14, 2005

A Rising Tide

It's back to "a rising tide lifts all boats" for the Republicans in Washington:
WASHINGTON (Reuters) - U.S. House Republicans said on Wednesday they were still committed to extending tax cuts signed by President Bush two years ago, saying they had not abandoned the effort, despite Hurricane Katrina.
It's hard to imagine these tax cuts benefitting the people of New Orleans left with no home, no job, no nothing:
But House Speaker Dennis Hastert, speaking at the same news conference with McCrery, suggested Hurricane Katrina's devastation actually posed a new reason for pursuing tax relief -- as an economic stimulus.
"We believe we need to stimulate this economy," Hastert said, noting that Congress had passed stimulative measures after the shock of the attacks of September 11, 2001.
At least Hastert didn't refer to a "trickle down" effect for New Orleans. But Cato Institute fellow Alan Reynolds, writing in the Washington Times, showed just how tone deaf he is by actually using the rising tide metaphor three days ago:
Some critics cite poverty rates to suggest President Kennedy was wrong when he said, "A rising tide lifts all boats." But economic growth alone could never help those who either cannot or will not get into a boat and grab an oar.
(Photo: REUTERS/Pool/David J. Phillip)


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