“The main difference that we came out of there with was, ‘do you want to rein in Wall Street?’”
That particular Pelosi quote made my head explode, but I’ve pieced it back together. For a person to ask such a question who leads an institution that was just as responsible for the financial woes in which we now find ourselves (likely more so) as the hated Wall Street takes chutzpah. Compound this culpability with the massive government expansion we’re seeing and we understand the unease of the populace, as numerous polls now show. If she’d focus at least as hard on “reining in” Washington, she might have something.
And for the zillionth time, it’s a favorable–not putative–tax policy that saves the day, one in which financial advisors have a big hand. Donald Luskin’s piece in today’s Wall Street Journal details the impact Roth conversions will have on the health of federal coffers.
“When this miracle happens, don’t let anyone tell you it was Obamanomics or stimulus that caused it. In reality, it will be the unexpected result of an obscure provision of the Bush tax cuts that’s been hiding in plain sight since 2006. That’s right, the much-maligned Bush tax cuts are going to save the day.”