the corner office

a blog, by Colin Pretorius

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Yelling at the Presnit

Economist Brad DeLong heaves a little too far to the left for my tastes usually, but sometimes he says interesting stuff. In a response to the Greg Mankiw article I referred to yesterday:

As Milton Friedman liked to say, and as he did say when he--I am told--yelled at George W. Bush during his 90th birthday celebration at the White House--to spend is to tax. Will the spending, and you will the taxes. If somebody claims to have cut your taxes without cutting spending, do not believe them: all they have done is to shift taxes forward into the future, and made taxes on current consumption lower while making taxes on long-term transfers of wealth into the future higher.

I thought the birthday link was amusingly appropriate given that today was Maggie's Thatcher's 85th birthday party at No 10 (even though she was too ill to attend).

{2010.10.14 - 16:54}


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