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A Coasean Turn at Politics

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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 [2] 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 [3] – 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.