End theocracy at home
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I just had a thought (gasp) ab...,
I happened to catch Limbaugh's show for the first time in about 10 years on the
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
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 |