Democratic Senate Majority Leader Harry Reid must be looking at the results of a different election than the one America held Tuesday.
Because on Wednesday he insisted that President Obama’s narrow victory proves Americans favor tax hikes, particularly on the “wealthy,” as part of any plan to address massive US deficits.
Taxes on “the wealthy” are the first refuge of Democratic scoundrels these days: Gov. Cuomo carved a big hunk out of that pie a year ago; Assembly Speaker Sheldon Silver is clamoring for a slice of his own — as is virtually the entire New York City political establishment.
Reid seems set on pursuing his own hikes, perhaps along the lines of those Obama has pushed — and the Republican-controlled House be damned.
(And, essentially, half the US electorate.)
The majority leader is prescribing more political stalemate, at best — and, should he prevail, his higher taxes will forestall economic recovery even longer.
House Speaker John Boehner, by contrast, had a far more accurate assessment of the vote, calling it a mandate for — if anything — finding “common ground.”
Boehner signaled his openness to a deal, including raising federal revenue through tax reform and economic growth — while in an interview yesterday terming an increase in tax rates “unacceptable.”
Sure, Reid claimed he’d be conciliatory.
“It’s better to dance than to fight,” he said. But he also threatened to push through dynamite changes of Senate rules — so as to weaken GOP influence there.
So much for conciliation.
Let’s face it: The Reid-Obama diet of more taxes and more spending isn’t going to tame runaway deficits or jolt the economy back to life, creating jobs and growing real wages.
Just the opposite.
Because Obama’s win Tuesday doesn’t change economic reality: Tax hikes on job-producers — small businesses, investors, middle- and upper-income folks — only slow recovery.
Meanwhile, the kind of revenue Obama seeks, and that is needed to plug yawning budget holes, can only come from a stronger economy.
That means holding down taxes and easing regulation to spur growth.
If Reid truly wants to be “conciliatory,” juice the economy and shrink deficits, he’ll work with Boehner.
And stay far away from politically paralyzing, economically destructive tax hikes.