Tuesday, July 28, 2009

More taxes and less health care

Martin Feldstein presents some good criticism of the Obama health care plan in yesterday’s Washington Post here . Major tax increases on middle income earners are to be expected, as well as bureaucratic rationing of health care for all, if the plan is implemented.

Readers of this blog know that already, but they also know that the impact of increased tax will cost dearly in lost growth as Edward Prescott has convincingly demonstrated (see my paper – in French – “Comment gagner plus?” published in the spring issue of Commentaire and available for download on my home page, http://jjrosa.com).

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