Things One Can Learn From Democrats

Update: It’s now on Drudge, too: VIDEO: Dem Chairman: 'There should be tax increases'

It’s always instructive to see the things one can learn from Democrats when they’re being candid. Appearing on CNBC yesterday, House Financial Services Committee Chairman Barney Frank (D-MA) said, “I think at this point, there needs to be a focus on an immediate increase in spending and I think this is a time when deficit fear has to take a second seat. I do think this is a time for a kind of very important dose of Keynesianism. I believe later on there should be tax increases. Speaking personally, I think there are a lot of very rich people out there whom we can tax at a point down the road and recover some of this money.”

Certainly, Frank’s honesty is appreciated. He’s done a superb job summarizing Democrats’ economic plans: spend more money, increase deficits, and then raise taxes. Remember Democrats claiming two years ago to be the party of fiscal responsibility and how so many of their congressional candidates called themselves “fiscal conservatives”? Apparently they don’t. Democrat leaders have been saying that they plan to have Congress return shortly after the election to consider a new economic stimulus package they’ve been pushing, to the tune of $100 billion, and possibly as much as $300 billion. That certainly covers the deficit spending component that Frank was talking about. The obvious question now is: by how much do they want to increase taxes?

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