-- the chairman of the George Mason U. economics department -- weighs in on the foolishness of economic "stimulus". I particularly liked this quote attributed to Warren Buffett, "It's only when the tide goes out that you learn who's been swimming naked."
And this is even better. Another George Mason economist -- Russ Roberts -- debunks GOP spin about the magical powers of the Bush "tax cuts" in the face of Bush's massive government spending increases. Roberts writes,
"Bottom line: [Federal income tax] revenue in 2006 was still below 2000 in real terms ..
[And] Government's share of the pie has grown dramatically under Bush II. You can argue it was worthwhile. You can argue that he had no choice. (I think you'd be wrong on both counts, but never mind.) But you can't argue that Bush has cut our taxes. Our taxes are higher and they've been shifted into the future via debt."
For details, read the whole thing.
And this is even better. Another George Mason economist -- Russ Roberts -- debunks GOP spin about the magical powers of the Bush "tax cuts" in the face of Bush's massive government spending increases. Roberts writes,
"Bottom line: [Federal income tax] revenue in 2006 was still below 2000 in real terms ..
[And] Government's share of the pie has grown dramatically under Bush II. You can argue it was worthwhile. You can argue that he had no choice. (I think you'd be wrong on both counts, but never mind.) But you can't argue that Bush has cut our taxes. Our taxes are higher and they've been shifted into the future via debt."
For details, read the whole thing.
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