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Pastimes : Discussion Thread
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To: c.hinton who wrote (2540)11/7/2008 11:14:01 AM
From: TimF  Read Replies (2) of 3816
 
for some its all about popularity as opposed to leadership.


Leadership is the art of the possible. Proposing ideas that are certain to go down in flames is typically not good leadership.

and i am still eagerly waiting for your explanation of how popping the bubble earlier would have been more painfull.

I never said "popping the bubble earlier would have been more painful".

I said tax increases (by which I mean increasing income tax rates, this isn't a general statement about any possible form of tax increase) would have made it more painful (whether or not they popped the bubble earlier), because they would have increased the incentive to invest in housing and to borrow to do so. And also because they directly would have caused pain to the rest of the economy. So you get a bigger bubble sooner and more pain in other areas as well.
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