Thursday, January 27, 2011

A Long Island tax cut backfires on the Tea Party

A special report from Reuters:

Nassau's ills exemplify the growing tension across the country as dozens of freshly-elected Tea Party lawmakers, many of whom promised to cut taxes, must find ways to slash record budget gaps as revenues dwindle.

"A lot of people who got elected on this type of anti-tax platform are running into the brick wall of fiscal reality," said Matthew Gardner, executive director of the non-partisan Institute on Taxation and Economic Policy in Washington.

Besides being a cautionary tale, the setback in Nassau County is a black eye for the Tea Party, the grassroots movement built around the core principles of constitutionally limited government, free-market ideology and low taxes.