Saturday, January 21, 2012

At first glance… look more closely please

A frequently and sadly missed point in NZ debate about tax and companies.

Mankiw writes:

“The corporate income tax shows how dangerous the flypaper theory of tax incidence can be. The corporate income tax is popular in part because it appears to be paid by rich corporations. Yet those who bear the ultimate burden of the tax—the customers and workers of corporations—are often not rich.”

From a Greg Mankiw blog debate featuring the world’s most bad mannered economist Paul Krugman.

Saturday, January 14, 2012

Where freedom to choose sits…

From a Bill Niskanen obituary (late Chair of the Cato Institute), Steve Hanke gives us this:

"Economic growth, income equality, and environmental conditions are all a positive function of the degree of economic freedom." On the moral question, Bill argued that good and evil had no moral meaning in the absence of choice and that a free market economy "maximizes the conditions in which we are 'free to choose'."