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Old 09-17-2012, 08:12 PM   #1
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Amazing, consise article

http://online.wsj.com/article/SB1000...Tabs%3Darticle

"The fixes are blindingly obvious. Economic theory, empirical studies and historical experience teach that the solutions are the lowest possible tax rates on the broadest base, sufficient to fund the necessary functions of government on balance over the business cycle; sound monetary policy; trade liberalization; spending control and entitlement reform; and regulatory, litigation and education reform. The need is clear. Why wait for disaster? The future is now."
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Old 09-18-2012, 02:56 AM   #2
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What necessary functions of government?
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Old 09-18-2012, 04:07 AM   #3
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Originally Posted by mike View Post:
What necessary functions of government?
taxation and wealth re-distribution....
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Old 09-18-2012, 04:57 AM   #4
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Originally Posted by mike View Post:
What necessary functions of government?
Functions that CANNOT be reasonably provided by anyone else, typically external defense and a fair/blind justice system for national issues at the federal level, and police, fire, fair/blind justice system for local issues, and similar functions at the lower levels.
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Old 09-18-2012, 06:04 AM   #5
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Sorry WSJ, but you are a few months late and several billion dollars short. Shoulda started banging that drum when we had a viable choice to effect real change. The two machine puppets the media fixates on from here on out aren't going to do squat to change anything materially.
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Old 09-18-2012, 06:54 AM   #6
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Originally Posted by PMBug View Post:
Sorry WSJ, but you are a few months late and several billion dollars short. Shoulda started banging that drum when we had a viable choice to effect real change. The two machine puppets the media fixates on from here on out aren't going to do squat to change anything materially.
While they are late, think about who wrote this article. In an important mainstream newspaper written by a group that includes a former Secretary of Treasury, a Carnegie Mellon professor, and a bunch of Stanford professors. This is not a group that can be easily dismissed as crazy tin foil hat types. It is encouraging to see more and more people noticing and talking about the issues of the U.S.

About the authors:
http://en.wikipedia.org/wiki/George_P._Shultz
http://en.wikipedia.org/wiki/Michael_Boskin
http://www.hoover.org/fellows/10089
http://en.wikipedia.org/wiki/Allan_Meltzer
http://en.wikipedia.org/wiki/John_B._Taylor
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Old 09-18-2012, 07:12 AM   #7
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It seems to me to be a pretty transparent attempt to shore up political support for Romney. Where where they (and Stanford University's Hoover Institution which they represent) when David Stockman was the lone voice in the wilderness over the last few years?
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Old 09-18-2012, 02:55 PM   #8
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Good article. Thanks for posting.
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