Word: kinsley
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...Paying More for Gas, Voluntarily With his proposal for broad new energy taxes, Michael Kinsley gets my vote for insight of the year [Dec. 22]. I don't like high gas prices any more than the next guy, but I would rather put the money to good use in the U.S. than send it to OPEC. The American people have demonstrated beyond a doubt that they can and will get by with less gas if there is a compelling reason in the form of a higher price at the pump. The enormous, unstated side benefit of Kinsley's proposal...
...Kinsley falls prey to Frederic BaStiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went to oil companies instead of the government. But he forgets that oil companies do not have control...
...Neither Borrower nor Lender Be As a person interested in reality, I much appreciated Michael Kinsley's Essay on the government stimulus package [Dec. 15]. The media regularly say the "taxpayer has been hit again." I don't recall my taxes being affected. Rather, we have borrowed again, and not from fellow Americans - but from China, Japan and other countries. Have we come to the point that we may have more clout in the world militarily but others have more clout economically? I have read that what really brought the U.S. out of the Great Depression was World...
...Paying More for Gas, Voluntarily With his proposal for broad new energy taxes, Michael Kinsley gets my vote for insight of the year [Dec. 22]. I don't like high gas prices any more than the next guy, but I would rather put the money to good use in the U.S. than send it to OPEC. The American people have demonstrated beyond a doubt that they can and will get by with less gas if there is a compelling reason in the form of a higher price at the pump. The enormous, unstated side benefit of Kinsley's proposal...
...Kinsley's latest missive in TIME falls prey to one of the oldest traps in economics - Frédéric Bastiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went...