<blockquote><font size=1>In reply to:</font><hr><p>The American analyst, who is a professor at Arizona State University and a researcher at the Federal Reserve (news - web sites) Bank of Minneapolis, said a large tax cut in 1986 had lowered rates while collecting the same revenue.<p><hr></blockquote><p>(read: "i will take less of your money, but i will get just as much money from you.")<br><br>that's why i am not going to be a nobel laureate any time soon. <br><br><br>--<br>one of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -Plato
Oh I see how it works...<br><br>You see, when the economy was really rolling in the mid-90s, everyone suddenly discovered that they were paying too much in taxes and didn't want to work anymore, despite rates remaining the same for four years or so. Not unlike a crabby Hollywood actor, everyone lost their motivation and the economy tanked.<br><br>Of course, by the same logic presented in Prescott's argument, the economic expansion of the 80s should really be credited to the amazing fiscal policy of Lyndon Johnson.<br><br>-- Charlie Alpha Roger Yankee Whiskey<br>
Heh heh, yes, there's one. We also had a Nobel peace prize winner this week that thinks HIV was created artificially for use as a biological weapon. That was simply a naive thing to say about something she knows nothing about.<br><br>So, let's check out the study of 56 different economists run by The Economist and see how our fearless leader stacks up to the competition.<br><br><br><br><br>"Are our economists partisans? We chose their names, at random, from among the referees of the American Economic Review, one of the profession's more prestigious publications."<br><br>Its interesting how sharply they disagree with Kerry on job outsourcing, but hey, what do those fools know about economics anyway? <br><br>
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