Wednesday, November 24, 2010
New York Times op-ed, The Blur Between Spending and Taxes
, by N. Gregory Mankiw
((Harvard University, Department of Economics):
Should the government cut spending or raise taxes to deal with its long-term fiscal imbalance? As President Obama’s deficit commission rolls out its final report in the coming weeks, this issue will most likely divide the political right and left. But, in many ways, the question is the wrong one. The distinction between spending and taxation is often murky and sometimes meaningless.
(Hat Tip: Elliott Manning.)