American Republic Online

If the Democrats have their way,

“We would actually have for more people higher tax rates than what we had under Jimmy Carter” is the way Lawrence Lindsey, former director of President Bush’s National Economic Council, described to me what might happen if the tax reform bill from House Ways and Means Committee Chairman Charlie Rangel ever became law.

So says James Pethokoukis. It would seem that they think the White House will inevitably be blue come January, 2009. I have little doubt that they will try their hardest to bring taxes back up. However, the allusion to Carter raises an interesting thought: what happened after Carter? Reagan Revolution anyone? This follows a similar thought I commented on a couple weeks ago:

If [Thompson] loses the election (or nomination for that matter) it would be on principle: he stuck to his guns. Or, as Henry Clay once said, “I’d rather be right than president.” And then if a Democrat wins and promotes a “progressive” agenda [or raises taxes like crazy], he can point out his unflinching conservative principles, and float to a win in 2012.

If Thompson is willing to run again. Still, if the Democrats increase entitlements (add more: national health care), and run all the high income people to either a.) produce less to avoid higher taxation or b.) move to another country, then it seems to me that someone with relatively conservative principles would have a pretty easy go in 2012.

BUT, we’d have to make through 4 years (or maybe only 2?). Lindsey made a great point when he commented that