on how to get short-term stimulus and a longer-term movement toward budget balance:
1) making the federal income tax _more_ progressive (combined with short-term deficits to stimulate demand) would help with long-term budget balance, because the more GDP grows, the more people would be in the top tax brackets. 2) getting rid of the indexing of tax brackets would also help, because higher inflation rates (which usually goes along with more real GDP growth) would push more people into to the top tax brackets. -- these are very orthodox proposals. Why didn't the BS (Bowles-Simpson) commission talk about them? [rhetorical question alert!] -- 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
