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Friday, September 24, 2010

I just signed this letter. Raising taxes now on anyone makes me wanna howl.


derekp said...

Where is Alan Blinder's signature?

Randall Parker said...

Right next to Paul Krugman's.

ArmChairEconomist said...

Won't this primarily be viewed as a transitory increase in income and have a smaller impact than desired?

ie: Friedman's permanent income hypothesis

Randall Parker said...

Hey Armie: That is what I fear. That is why I am for locking in these marginal tax rates for the next 50 years and widening the base substantially. Then we would have tax certainty. Hauser's law leads me to believe raising tax rates has much more negative impact on economic growth than they do on raising revenue as a share of GDP. History proves I'm right.