If by the mere force of numbers a majority should deprive a minority of any clearly written constitutional right, it might, in a moral point of view, justify revolution.

- Abraham Lincoln


The great thing about economists is that many of them are really smart philosophers. These days we have the irreverent Walter E. Williams, the wise Thomas Sowell, and on the popular scene comes the newest Noble, Edward Prescott, who complained that the Bush tax cuts were not deep enough.

Edward Prescott says it as simple as it can be said, and explains why the left is for higher taxes and more social programs: Lower tax rates provide an incentive to work.

The beauty of that statementís simplicity. How can anyone be against such a perfect, truthful philosophy, a universal truth? How, indeed.

posted at 14:34:05 on 10/12/04 by clearpolitics - Category: Economics - [Permalink]

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