Bryan Caplan over at Econlog notes that the painful taxes needed for Cap-and-Trade and Obamacare conveniently don’t actually happen until… after the next election!
In the thirties, governments had Four Year Plans. Today, they have Four Year from Now Plans – big policies that basically don’t kick in until the next election. Waxman-Markey lets emissions grow normally until 2012. When I criticized the House’s health care plan, several defenders quickly pointed out that its payroll tax doesn’t kick in until 2013.
Why? Politicians want to take credit for having done something now and avoid being blamed for the economic havoc that their policies will actually have. Politicians think in the short-term, even if reality doesn’t work that way.Published in