Thursday, March 03, 2005

Smart people in the news today


Eastwood has responded to the talk radio criticism by noting that if you go far enough to the right you encounter “the same idiots coming around from the left.” He deserves another Oscar just for that comment.


"Many economists believe that a consumption tax would be best from the perspective of promoting economic growth," Greenspan said, "particularly if one were designing a tax system from scratch -- because a consumption tax is likely to encourage saving and capital formation."


Bush's advisers have spoken favorably of the economic benefits that could be achieved by moving from a system that taxes income to one that taxes consumption. However, Democratic critics contend such a consumption tax would hit low-income Americans the hardest.

But Greenspan, during a question and answer period, said today that policy-makers can design a consumption tax that would exclude products that are mostly consumed by the poor.

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