Spending isn't the problem as much as wasted spending is the problem. When the government creates the predecessor to the internet or GPS, it is well worth the expense. When the government makes the stock market appear safe, it is well worth the expense. Such expenses if cut will not improve productivity or generate a recovery.
Tuesday, December 20, 2011
Thoughts
One is the getting rid of the lower capital gains and dividend rates and the other is the top rate. The lower capital gain and dividend rate is a distorting subsidy to the stock market that sucks investment from small business into portfolio income. The top rate can be increased without damaging the economy because it's impact on disposable income is insignificant and we have had higher rates at time when we have done well.
Spending isn't the problem as much as wasted spending is the problem. When the government creates the predecessor to the internet or GPS, it is well worth the expense. When the government makes the stock market appear safe, it is well worth the expense. Such expenses if cut will not improve productivity or generate a recovery.
Spending isn't the problem as much as wasted spending is the problem. When the government creates the predecessor to the internet or GPS, it is well worth the expense. When the government makes the stock market appear safe, it is well worth the expense. Such expenses if cut will not improve productivity or generate a recovery.
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