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Quotation of the Day…

… is from page xx of Walter J. Blum’s and Harry Kalven, Jr.’s 1963 “Introduction” to the ten-year-anniversary re-issue of their 1953 classic and insightful book, The Uneasy Case for Progressive Taxation (footnote omitted): At the time of an emergency which brings about a tax increase, it appears that a sudden new burden can be more [...] [...]

Kling on Krugman on Debt

Without mentioning Jim Buchanan, Arnold Kling succinctly captures and reveals the essence of Jim’s powerful case against the Keynesian/Krugmanian assertion that internally held government debt is no real burden on citizens.  (HT James Pethokoukis) Unwise aggregation is always blinding, and never more so than on the question of the burden of government [...] [...]