Sunday, October 2, 2011
Tyler Cowen argues persuasively that Republican no-tax ideology (or should we say zealotry) will lead to higher taxes and a worse fiscal position for the U.S. government. Ironic, yes, like a lot in life. Getting through it requires thought, which the Republicans are woefully short of. So sad.
I think that he has a very good point here. Of course, some investors, say Warren Buffett & Charlie Munger, have exercised significant skills (including self-restraint), but a fair amount of success in this area is a matter of luck. Add Robert Frank's suggestion of a progressive tax on expenditure (if this is the right term), we'd probably all be better off.