By Tom Quiner
Liberal instincts seem to be consistently wrong when it comes to creating jobs.
Republicans have an uncanny ability to be suckered into supporting ill-conceived “job-creating” legislation. The payroll tax cut extension is a tour de force of bad economic policy.
The premise of the president and his party is that “putting money in people’s pockets” will stimulate the economy and create jobs.
So did the cut in the payroll tax last year result in economic growth and job creation? No, just the opposite. Why in the world would we double-down on an ineffective policy, especially when it accelerates the fiscal unsoundness of Social Security and Medicare?
And then we have to go through all the political wrangling again in just two months to renew this dog.
As much as I like tax cuts, this is the wrong way to cut taxes.