Robert Naiman wrote: > ... Now is the wrong time to raise taxes [even on the rich].
this macroeconomics argument only makes sense "all else constant," i.e., assuming that the negative effect of a tax increase on the rich isn't counteracted in any way by an increase in government spending and/or a tax cut for the non-rich. In any event, the rich don't change their spending habits much at all when their after-tax incomes change. Because they typically don't have to worry about cash-flow constraints (the way most of us have to), they pay much more attention to their current net wealth. -- Jim Devine / "The conventional view serves to protect us from the painful job of thinking." - John Kenneth Galbraith _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
