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A Coasean Turn at Politics

Upset at the GOP’s strategy for securing Pres. Obama’s agreement to extend all of the Bush tax cuts, New York Times reader Janet Kehl writes that “Holding much-needed relief for millions of desperate unemployed Americans hostage to tax cuts for multimillionaires is despicable.”

What’s despicable is holding a proposal that allows some Americans to keep more of their own money hostage to a policy of giving other Americans more of other people’s money.

UPDATE: HT to IndianaJim for alerting me to this column by Thomas Sowell – a column that opens with a line that suits this post perfectly:

Let’s face it, politics is largely the art of deception, and political rhetoric is largely the art of misstating issues.