Wednesday, December 26, 2012

An Age of Illusionists | Steve H. Hanke | Cato Institute

An Age of Illusionists | Steve H. Hanke | Cato Institute: "For purposes of evaluating federal projects, the OMB requires that an excess burden of 20% be employed. A wide range of scholarly research indicates that the average excess burden of the federal tax system is actually closer to 35%. Accordingly, the real economic cost of a dollar’s worth of federal spending is $1.35, not $1.00."

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