Monday, November 22, 2010

Reisman, Frezza vs. Madness

George Reisman has an excellent post on Harvard Professor N. Gregory Manikiw's claim that increasing taxes is reducing spending.

...the danger exists that Left and Right are about to unite to accomplish a colossal political fraud in the form of enormous tax increases sold to an unsuspecting public as reductions in government spending.

Bill Frezza on how the government is "Criminalizng the Act of Doing Business".

Successfully demonizing business, making it ripe for manipulation and plunder, takes a well planned effort sustained across multiple fronts.

Start with a broad cultural assault equating profits with theft. Follow up using the highest corporate tax rates in the developed world to confiscate and redistribute profits to favored constituents. Force companies to divert precious resources into satisfying complex and ever-changing regulations. Then inflict a cost that can't be passed along to customers or shareholders by criminalizing a broadening catalog of business practices. Make a big show of selective enforcement so that every senior executive goes to bed wondering, am I next?

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