Here we go again. All of this country’s economic problems are the Republicans’ fault. The latest person to point the finger is Steven Lanza, economist for the University of Connecticut’s economic journal, The Connecticut Economy. In its winter issue, Lanza predicts Connecticut could lose 20,000 jobs, if the nation is allowed to go over the Fiscal Cliff. Then he takes the Republicans to the woodshed.
“Political analysts are cautiously optimistic that, in the wake of the president’s re-election and modest legislative gains for the Democratic Party, recalcitrant Republicans will negotiate an agreement to avert disaster,” Lanza wrote.
Yes, those “recalcitrant” Republicans.
I have respect for Lanza’s reports, but his bias shines brighter than the red ink on the deficit. He comes from academia, which always favors government spending more money. His university is exhibit A. Connecticut is going through a major budget crisis, while UConn is hiring personnel like a drunkin’ sailor.
Republicans are targeted for their opposition of tax hikes on the “rich.” Perhaps Lanza ought to look at what repeated tax hikes on the rich have done to his home state. The rich have fled or at least changed their address to out of state. Connecticut has gone through its largest tax hike in history. What’s the result? A ballooning budget deficit and long range forecasts of even deeper red ink.
Lanza and his ilk would serve the taxpayers well by writing a report on how much raising federal taxes on the rich would really rescue the nation’s financial crisis. And while he’s at it, he might want to investigate the result of repeatedly raising taxes on the rich in Connecticut. Sadly, my presumption is, he would probably say the tax hikes are not enough and we need more.