Tuesday, August 24, 2010

New York Times Seeks Higher Taxes on the “Rich” as Prelude to Higher Taxes on the Middle Class

As usual Dan Mitchell with Cato schools the Keynesians over at the NY Times. I do not understand why we still have to go through these exercises when Keynes has been disproven time and again. Hoover and FDR...Fail. Japan in the '90's...Fail. One just needs to look at how Germany has succeeded in the last year in part by shunning further stimulus. This type of stimulus has never shown itself to be a recipe for long term economic growth. Borrowing money from some people in the economy to hand it to others is counterproductive and too reliant on consumer spending to drive it. It never creates any sort of increase in aggregate demand, we have seen it time and again. Read Dan Mitchell below and just get smarter....



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