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Notes to myself, possibly of interest to others.
-- Bill Northlich

Sunday, September 26, 2010

Thaler of Chicago: End tax cuts for the rich (!)

WANT to give affluent households a present worth $700 billion over the next decade? In a period of high unemployment and fiscal austerity, this idea may seem laughable. Amazingly, though, it is getting traction in Washington.

I am referring, of course, to the current debate about whether to extend all, or just some, of the tax cuts of President George W. Bush — cuts that are due to expire at year-end. They’re expiring because the only way they could be enacted initially was by pretending that they were temporary.
---Richard Thaler, U. of Chicago

Yikes - a Chicago professor against tax cuts! The world as we know is is ending! This is actually a good read, not too long.

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