Frankel – Four Magic Tricks for Fiscal Conservatives

Jeffrey Frankel beskriver i glada färger på Project Syndicate hur man gör för att på bästa sätt dupera allmänheten i att skattesänkningar betalar sig själva. Det hjälper förstås om man har fåkunniga och/eller införstådda journalister och betrodda ekonomer som stagar upp korthuset:

”The United States is famous for its ability to innovate. Aspiring fiscal conservatives around the world thus might be interested in learning four tricks that American politicians commonly use when promising to cut taxes while simultaneously reducing budget deficits. These are hard promises to keep, for the simple reason that a budget deficit equals government spending minus tax revenue. But, each of the four tricks has been refined over three decades. Indeed, they first acquired their colorful names in the early years of Ronald Reagan’s presidency: the “magic asterisk,” the “rosy scenario,” the Laffer hypothesis, and the “starve the beast” scenario. As shop-worn as these tricks are, voters and journalists still fall for them, so they remain useful tools for anyone posing as a fiscal conservative.”

Mer:

”The final trick, “starve the beast,” typically comes later, if and when the president has enacted his tax cuts and discovers that smoke and mirrors do not trump reality. He cannot find enough spending to cut (the magic asterisk has disappeared up the conjurer’s sleeve); the acceleration in GDP is nowhere to be seen (the rosy scenario having vanished); and tax revenues have not grown (no rabbit in the Laffer hat).”

 Jag försökte beskriva en liknande argumentationslinje med min allegori VE².

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