Saturday, July 9, 2011

Greg Mankiw Gives The Game Away

Greg Mankiw's Blog:
"My advice: Amend your line in the sand to NO INCREASES IN TAX RATES. Be willing to give up on tax expenditures if we simultaneously make current tax rates permanent--or, better yet, if we lower rates, as the Bowles-Simpson commission suggested.

Addendum: A phase-out of deductions for high-income taxpayers would count as an increase in tax rates, as the Wall Street Journal notes today on its editorial page."

I have not edited the text. Those really are consecutive paragraphs.

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