Edward Prescott and taxes
Posted by Peter W. Schramm
Edward Prescott, who just won the Nobel Prize in Economics, had this to say about Bush’s tax cuts:
"’What Bush has done has been not very big, it’s pretty small,’ Prescott told CNBC financial news television.
’Tax rates were not cut enough,’ he said.
Lower tax rates provided an incentive to work, Prescott said."
2:55 PM / October 13, 2004
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He won a Nobel Prize for that! I knew that!
Too bad the economists writing op-eds for the New York Times do not know that.