Kudos to anyone beating the surplus the Grouch is sure to come up with.
My disappointment is that some obvious revenue enhancing measures are not included. For example, I propose a 75% maximum income tax on all members of the Council of Economic Advisers to the President retroactive to income earned since 1980. As a matter of fact, I think most Americans would support an income tax surcharge of 15% on all economists in D.C. on the principle that, the more you tax something, the less you get.
While I am at it, I have to ask why future economic policy makers and their teachers have to put in the public domain their obvious lack of rhythm: Harvard Holiday Party. One would think that, after screwing up the economy, they would keep a low profile.
Thanks for the call out. Economists are notorious know-nothings, as are politicians. Thank goodness they are running the country's economy.
ReplyDeleteMaybe we should put some incentives in place for politicians too, since they seem to exempt themselves from most of their own laws. Maybe their pay should be tied to growth and deficit reduction targets. In which case they would be paid very little over the past several years.
My position on deficits has always been we need to cut spending first because politicians can't be trusted. They will have any agreed upon tax increase spent before the ink is dry on the bill.
Sadly there is a lot going on. Incentives are misaligned, spending other people's money gets votes. and programs grow like the plant in The Little Shop of Horrors. Like a drug addict we need an intervention from time to time.
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