Give those Republicans credit

Good econ news has White House happy, says Larry Kudlow.  But “sublime irony” in that:

The wake-up in job creation is a function of Republican policy. After all, for two years the Obama Democrats spent themselves into oblivion, with over $1 trillion of so-called big-government stimulus. Didn’t work. By the end of last year, that failed stimulus wore off, and it was replaced by Republican tax cuts.

Remember that in mid-December, after his election shellacking, President Obama signed a deal that extended the Bush tax rates across the board. The top marginal rate stayed at 35 percent. Investment tax rates for cap-gains and dividends held at 15 percent.

Most business people I know — folks who work in both large and small companies — welcomed the tax-rate freeze as a sign that maybe the war against growth, capital formation, and small business was either coming to an end or at least a two-year truce.

So, presto, the jobs numbers start jumping in the new low-tax year.

War against growth, yes.

One thought on “Give those Republicans credit

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