"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
Friday, September 24, 2010
I just signed this letter. Raising taxes now on anyone makes me wanna howl.
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.
Where is Alan Blinder's signature?
ReplyDeleteRight next to Paul Krugman's.
ReplyDeleteWon't this primarily be viewed as a transitory increase in income and have a smaller impact than desired?
ReplyDeleteie: Friedman's permanent income hypothesis
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.
ReplyDelete