WE CAN'T USE THE WORDS "HIGHER INDIVIDUAL TAXES", SO WE'LL JUST SAY "LOWER WAGES"
Trapped by their incoherent political posturing on taxes, the Tea Party in Wisconsin and soon elsewhere will turn to wage cuts.
In terms of your own personal wealth, can I ask, "What is the difference between taking a wage cut that you won't recoup for a long time and, say, paying a one-time tax for an economic stimulus?"
[This is why some commentators don't get it. It IS rational for individuals to want the risk of a stimulus versus the risk of wage cuts that only induce more rounds of wage cuts.]
Tuesday, February 22, 2011
Tea Party to America: "Everybody take a wage cut"
