Economics is a very poor science if it is a science at all. It’s worst fault as a science is the central assumption of “All other things remaining the same.” Things don’t stay the same. And changing one thing usually changes several things.

If we cut taxes rates in the hopes that the economy will improve, the improvement is always temporary but the tax cuts and the debts are permanent.

We never go back after the economy improves and pay off the debts or return taxation to status quo. We just don’t do it. It’s the Milton Friedman version of “No Free Lunch.” Yes, someone gets fat today but someone gets thinner tomorrow or the day after. And tax cuts don’t always feed our economy. Other economies often feed at the public cafeteria named, “Tax Cuts,” a cafeteria open 24 hours a day, 7 days a week, all other the global economy.

Why feed the French when Americans are hungry?

Spending programs also create debt. But spending programs end. The federal debt won’t go away but it doesn’t keep increasing like it does with never ending ‘tax cuts to stimulate the economy.’

So we are where we are today from tax cuts and spending programs to revive our economy during slumps.

Tax cuts are a shotgun approach to fixing a short term economic problem. And like a gift that never quits giving. But it is a gift we wish we could give back called debt.

Spending programs at least end. Have fixed targets. But also have the burden of debt.

Of the two, a targeted spending program with long term and lasting benefits is better than dubious long term tax cuts with possible short term benefits.

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