Debating the Economy

There's a great editorial in today's New York Times. Here's an excerpt:

The immediate battle is over President George W. Bush’s tax cuts, which are set to expire at the end of this year. Mr. Obama wants to make the tax cuts permanent for families that make less than $250,000 a year and let the tax cuts expire for those who make more — about 2 percent of taxpayers. Mr. Boehner says he wants to extend all of the tax cuts for two years — although there is little doubt that the goal of Republicans is to extend all of them permanently.

It makes good sense to extend the middle-class tax cuts temporarily because the weak economy needs the boost, but it makes no sense to extend them for the rich. Middle-class Americans spend tax breaks, while wealthy taxpayers generally save them. In the longer term, more revenue will be needed to keep rebuilding the economy and meet health care and other obligations.

...For far too long, Mr. Boehner and others have been dominating the political debate with insincere sound bites, Jedi mind games and plain bad economics. How can they claim to care about the deficit and insist on more tax cuts?