Act In Haste, Repent In Leisure

What are the chances that our rulers in DC will be able to take Jonah Goldberg’s advice and resist the urge to pass a lot of idiotic laws in response to the corporate accounting scandals and let the market deal with it on its own?

Fat chance of that. As always, they will succeed in making everything much worse, as they do every time they try to simplify the tax system.

KMK

Counting Chickens Too Soon

David Broder confirms my explanation of how the Federal budget estimates were based on bogus assumptions of capital gains taxes.

Such figures are impossible to predict with any accuracy, which is why any official forward looking figures from DC should be ignored. They are completely fictitious. This is why I have always been a supporter of using dynamic analysis to predict the effects of proposed changes in tax laws. The static analysis that our rulers do use makes the idiotic assumption that changes in the tax laws have no effect whatsoever on the behavior of us working slaves. Nothing could be further from the truth.

KMK