THE OLD THIS TIME IT'S DIFFERENT: Donald Luskin: The Trade and Tax Doomsday Clocks - WSJ.com:
"It seems clear from many of the comments to articles in this newspaper that a great many otherwise apparently literate people have no understanding of economics.
They've certainly never heard about 'regression to the mean', 'economic utility', etc.
It doesn't take a genius to see that those countries with too many taxes and too many social benefits are those not thriving or bouncing back out of this recession.
Anyone reading about all of the scientific advances we have in science blogs must wonder why more of them aren't being followed up on to create new jobs.
But then again, as this article points out, society can choose - support what could provide jobs or bleed the wealth of society to support social transfer payments and overpaid union members and entitlement benefits.
Clearly the Dems are among those who believe the same high tax, anti-investment, anti-business attitudes will produce a different result 'this time'.
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Monday, October 4, 2010
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