Obama Is Wrong. Radical Tax Cutting IS The Answer.
Barack Obama has been very consistent about several elements of his storyline. It has three basic parts: First, the financial system just needs a little confidence. Second, the economy just needs a huge dose of spending on left-wing priorities. Third, and key to the point here, tax cuts don’t work. Obama always frames the point about taxes in a political context, something like: “the last | Read More »
What About The Payroll-Tax Holiday Idea?
It’s interesting that tax cuts have taken a central role in the fiscal-stimulus debate. (We really should be debating whether a massive fiscal stimulus is even the correct approach to the current economic, housing and financial crises. But since conventional wisdom has already hardened around that, forget about it.) In orthodox Keynesianism (perhaps last seen during the Kennedy Administration), tax cuts were the accepted way | Read More »