The Theory Are tax cuts warranted? The classic economic theory of “Guns and Butter” is used to illustrate the Production Possibilities Curve, or the maximum output possibilities for two sets of goods based upon available resources during a specific time frame. Guns represent military or defense spending, while butter represents the investment in civilian goods… More
TAXES, HYPOCRISY AND DISHONESTY
Hurricane Hypocrisy In August, the two Texas Senators and several of its Representatives revealed their hypocrisy in the exercise of fiscal responsibility. In 2013, they refused to support Hurricane Sandy relief efforts for New York and New Jersey. But these stalwarts of principle quickly pressed for relief funds for the damage in Texas by Hurricane… More