The editors of The Journal Gazette like to say they have a "progressive" editorial page, which is an apt description since, among other things, they've seldom met a tax increase or government program they didn't like. So I was amazed -- shocked and amazed, I tell you! -- to see this column today from Editorial Page Editor Tracy Warner:
Americans have read and heard much about how Congress and President Obama avoided the fiscal cliff, preventing big tax increases for 98 percent of Americans. Almost ignored was the 2 percent pay cut that began Tuesday for 160 million Americans – half the nation.
Much of the news focused on avoiding the automatic $110 billion in budget cuts this year, a move many economists feared could trigger a new recession. But there was barely a mention that the 2 percent increase in Social Security payroll taxes will take $115 billion out of the economy.
Later, there is the usual liberal litany -- this affects the working poor the most, those evil dividend-collecting, capital gain- exploting rich bastards aren't affected, blah, blah, blah. But the simple fact that he realizes money going to the government is taken "out of the economy" is a minor miracle.
