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    End theocracy at home before m..., 2002-11-20 02:00:00 | Main | I just had a thought (gasp) ab..., 2002-11-20 02:00:00

    I happened to catch Limbaugh's show for the first time in about 10 years on the same day as Kevin Drum, mega-dittos to Kev. As an adenum I'll offer someone else's observation on the wonderbus that is Rush's ad hoc abuse of the Laffer curve:

    "Because the Laffer curve is generally connected with standard macroeconomic analysis it remains an unsatisfactory analytical tool because it tends to conceal the fact that the optimal size of government is zero.... Maximizing the Laffer curve results in a tax rate that is higher than the one maximizing the tax base or any other welfare indicator. The tax base and the tax revenues are related by a familiar elasticity condition. In this more complex world it is easy for an incumbent bureaucracy to conceal its true preferences by pretending to maximize the welfare of society."

    Or for that matter by pretending to maximize the security of society by blowing billions on bureaucracy and bombers when we're fighting a couple of crazy, pissed off cave shrikes.

    Re-arming third world despots while decreasing foreign economic aid probably isn't a great way to tax and spend, either.


:: posted by buermann @ 2002-11-20 02:00:00 CST | link





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