Affording Tax Cuts, or Whose Money Is It, Anyway?
The logic of paygo for taxes is backward, in that it starts from the assumption that all tax revenue is Washington's in the first place and thus any tax cuts must be "offset" so Congress can be made whole. But of course the money belongs to the taxpayers who earned it, and the burden ought to be on the politicians to spend less so Americans can keep more. Republicans claim to believe this. ("Budget Irresolution," The Wall Street Journal, March 14, 2005) "Paygo" refers to the "pay-as-you-go" budget rules, which require that any tax cuts be offset by other tax…