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Politics : View from the Center and Left
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To: TimF who wrote (31403)11/10/2006 3:00:38 PM
From: neolib  Read Replies (1) of 541791
 
But tax cuts often get argued for in terms of an economic stimulus because people want results now, and politicians want results before the next election. They don't care as much about complex hard to quantify indirect benefits.

The #1 problem with Keynesian economics is that it fails to account for the fact that now is always the best time to spend more money while the future is always the best time to pay for it, at least for most politicians and many individuals.

In your list, 1, 2, and 4 have related issues. As I'm sure you know, I don't view "more individual freedom" as always beneficial. It would be perhaps if accompanied by "more individual responsibility". Unfortunately, there is no such universal link. Item 4 is used sometimes to address this, including its effect on how resources are spent (item 2).

I do of course agree that lowish taxes coupled with a lot of freedom is (AFAIK) the best economic model around. The data is pervasive enough that there is not much wiggle room to argue otherwise. It is interesting that despite all the political rhetoric and naming calling on the issue, US tax/GDP has been remarkably stable for so long. Of course what is far less stable is from whose pocket the money comes, which accounts for the energetic politics.
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