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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.
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