Republicans still profit from the impression that they are against high taxes. But they are not — because deficit spending ultimately means a higher absolute burden on taxpayers, even if that burden is expressed by inflation and other indirect economic costs. One could just as reasonably reverse Sowell’s fairy tale: naive, well-meaning Democrats who want to pay for programs up front and save taxpayers money in the long term are continually lured by devious Republicans into putting the charges on the federal credit card, leading to financial ruin down the line. Of course, that story is just as silly as Sowell’s, because both parties ardently adore deficit spending.
Both tell the American people that everything can be had for nothing: free healthcare, prescription drugs, retirement benefits, hundreds of bases around the world, federal highways, subsidized education, civil servants with six-figure salaries, supermax prisons, support for farmers, NASA — all with no money down! It’s not just the Democrats; the Republicans too make Countrywide Financial seem like an honest enterprise.
If you consider yourself a conservative, you really ought to be reading the @TAC blog.