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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (94143)	11/5/2008 5:19:06 PM
From: TimF	Read Replies (1) \| Respond to of 541824

Once again your conflating the impact of one factor and the overall result. got the government out of the credit markets so the government wasn't competing for money Taking the money through taxes, doesn't mean your taking any less than if you borrowed it. Its still pulling from the private sector in to the government, and at least for the short term creating more perverse incentives (due to the complexity and interventionist nature of the tax code, a factor which doesn't impact borrowing). In some ways government actually did pull in less, as a portion of the economy, but that wasn't because of higher taxes, but because of "the peace dividend" from the end of the cold war.