Left-wing bloggers won't be happy to find men and women of the right celebrating the Democrats' stated intention to make tax cutting a key element in their economic recovery program.

Let's celebrate anyway, in semi-hopeful fashion.

It's reported that President-elect Obama and his congressional allies support lowering taxes by approximately $300 billion as part of a two-year, $775 billion stimulus program previously viewed as too heavy on make-work spending.

The professional economists will dilate on the shape and size of the plan, which, as of now, would give tax credits for job creation; extend a Bush-initiated provision shortening the period for depreciation of new equipment; use last year's losses to reduce tax liabilities in previous years; and, for most individuals and families, reduce taxes by up to $1,000.

"Tax cuts for the wealthy"? To see these relatively mild proposals as such, most fans of big government would have to stand on their heads and screw their eyes in dramatic ways.

The apparent idea behind the Democratic plan is the encouragement of spending and investment. A related idea is the quelling of potential Republican objections to the size of the spending plan by the concession that, well, hmmm, ahem, it can make sense to encourage the flow of money through private rather than public hands. Continued...