"Starving the Beast" is a theory that says, the conservatives are creating a financial crisis by drastic cuts in taxes with sizeable increases in spending. Professor Paul Krugman of Princeton is one who talks about this idea. This theory says,the purpose of creating this fiscal crisis is to attack Social Security and Medicare which many conservatives hate. It is doubtful President Bush is the author of this idea but may be the means for conservatives to make it happen.
Wether the fiscal crisis we are creating is due to "Starving the Beast" or some other reason like GREED, it will be of little consequence. The harm it will cause will be the same!
I believe the reaction to our impending fiacal crisis will not be to make significant cuts or eliminate either Social Security or Medicare. These two social programs are by far the most popular programs ever created by congress. In addition, only the wealthy could live out their retirement years without these programs paying the expected benefits. Any real change to either program would have to be very far out so as to not impact the current voting population.
If the conservatives, as a reaction to a future fiiscal crisis, were to attempt to are actually cut or eliminate either of these programs, they will be swept from power. Then the moderate and liberal majority will imopose their solution to the crisis and keep Social Security and Medicare in place. Some possible solutions they may employ come to mind:
End the cap on Social Security Wages ($87,700 this year) and tax all earned incone the same as Medicare. This would only impact the weathiest 10 % of Americans.
Include all earned, tax exempt, dividend and capital gain income to the tax base for Medicare. This would only impact the wealthy.
Increase the tax rates for the top two income brackets and use the added revenue to solve the fiscal crisis.
These are but a few ways to solve the problem and make sure the wealthy pay the bill.
I guess it would be good for the conservatives, reguardless of the motivation for the current fiacal and tax policies to remenber this saying: BE CAREFUL WHAT YOU ASK FOR!