The Budget Battles on Which His Reelection Depends

The Republican Party today is obsessed not merely with not raising taxes but with lowering them further, chiefly on the rich. Since the advent of the Tea Party, Lafferism has yielded to Ayn Randianism, and so the theology is rapidly becoming the conviction that redistribution of any sort is not merely unsound policy but is fundamentally immoral. Paul Ryan’s proposed cuts to entitlements have received the most press attention (the budget plan he has crafted is perfectly logical and even moral from a Randian perspective). But if anything his tax cuts are far more outrageous—$4.5 trillion, the vast majority of which would go to the top earners by reducing the top marginal rate to 25 percent.

This article is available to subscribers only.
Please choose from one of the options below to access this article:

Print Subscription — $74.95

Purchase a print subscription (20 issues per year) and also receive online access to all articles published within the last five years.

Online Subscription — $69.00

Purchase an Online Edition subscription and receive full access to all articles published by the Review since 1963.

One-Week Access — $4.99

Purchase a trial Online Edition subscription and receive unlimited access for one week to all the content on nybooks.com.

If you already have one of these subscriptions, please be sure you are logged in to your nybooks.com account. If you subscribe to the print edition, you may also need to link your web site account to your print subscription. Click here to link your account services.