Sunday, October 26, 2008

President Obama Will Crush Greg Mankiw's Incentive To Do Additional Work

Mankiw does the numbers, here.

Note: Although he details well the heavy additional tax burden he will face during an Obama Administration and that he is thus less likely to work additional hours, he fails to note that this will also impact the standard of living of others, who will fail to benefit from his work. (Or perhaps, deep down, this is a Freudian slip, where he realizes an economist who doesn't have a business cycle theory isn't much of an economist.)

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