Jeffrey Miron on The Financial Crisis And The Case for Doing Nothing

[Dead...Again]

http://www.reason.tv/video/show/764.html

During Reason Weekend, the annual event held by the nonprofit that publishes this website, Harvard economist and Reason contributor Jeffrey A. Miron argued that last year's bailout was a mistake and that any stimulus spending should consist of reductions in taxes, not increases in expenditures.

[Hammy]

:2thumbs:

Great find.

[Duke{CLR}]

This guy is probably related to Cheney, Haliburton or Fox News and has no credibility. :wink:

[Skud]

I like his statement that the costs of prohibition far outweigh the benefits.

As for cutting taxes, it's hard to say. I can think of no administrations in recent history that have both cut taxes AND cut spending. Some have cut taxes and increased spending (didn't work). Some have increased taxes and increased spending (slightly more balanced result).

Some spending is necessary, even can be beneficial, if it's in the right areas (to name a few: roads, bridges, education [science, math...our graduation rates are nearing the last in industrialized nations])...unless we want to become a third world country, lower our quality of life a few more rungs.

I agree that tax breaks/incentives for small businesses and individuals would probably help more than throwing money at financial institutions so that they can loan more to an already indebted society will. Actually, taxes for folks making less than $200,000 have gone down, come to think of it...however, it's the money/spending going to the banks that's near criminal (Geitner is another Goldman Sachs' boy...not much different than the last admin)...

Blah, what a mess...I'm confident though that those on top will stay on top, and those on the bottom will stay on the bottom: that seldom changes. :2thumbs: