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View Diary: Killing Sacred Liberal Cows, or What Economists Think About the Economy (105 comments)

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    tardis10

    Good thoughtful post.

    1 and 2, from a political acceptability standpoint can be met by simply limiting the size of the deductions allowed. This would eliminate the major criticism of the deductions; that they are manipulated to benefit the wealthy and the imprudent.

    3. May be a good idea for industrial corporations but makes no sense for rentier or financial service corporations. Everyone would simply incorporate under in that case.

    4. From a revenue perspective this makes no sense (for example, it also benefits the wealthy in that is encourages them to save and invest and spend less on goods). On the other hand adding a consumption tax scheme like VAT to the mix of revenue sources reduces pressure to fund general government on income taxes alone thereby reducing the political effectiveness of so-called tax revolts.  

    4. Good idea. Cap and trade is only a compromise.

    5. I believe that in most cases economists are smoking something. In this case I am happy they are.

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