William Niskanen, Wise and Principled | Richard W. Rahn | Cato Institute: Commentary

William Niskanen, Wise and Principled | Richard W. Rahn | Cato Institute: Commentary: 'After careful analysis of the data, he concluded that the marginal cost of government spending and taxes in the United States likely ranged between $2.75 and $4.50 per additional dollar of tax revenue. He wrote, "One wonders whether there are any government programs for which the marginal value is that high." To put what he was saying more simply, GDP is reduced by roughly three or four dollars for every additional dollar the government taxes and spends.'