Re: The Horowitz Affair, or Culture Wars Part II

["Harry Veeder" <eo200@xxxxxxxxxxxxxxxxxxx>]

John Gelles wrote:
>
>        I, for one, would be willing to entice support from
>        these opponents for a full employment strategic plan
>        by giving them a sweetner. Perhaps a tax break they're
>        looking for? If money is not neutral, we can all afford
>        the deal.


Do Keynesians want a depression?

Income tax provides profit with a meaningful challenge.
Income tax is the inertia that makes the pursuit of
profit worthwhile. Reducing the challenge at the start
of a recession will become an excuse to further
reduce production.

The time to reduce taxes is near the peak of the business
cycle. Note: I identify the business cycle with fluctuations
in production rather than employment since employment is not
simply a matter of being in a productive "job".


Harry Veeder