Ever instructive negative example
Nick the knack Rowe
Suggests u wouldn't want to use the tax to borrow ratio to maintain adequate net job growth
And adequately tight job markets
Why
1)Dead weight loss thru shifting tax hits
And
2) inter generational inequities
The second reason we can save for a lter post
But dead weight loss thru the ever shifting rate of extraction on various revenue sources
So we use Ramsey rule to raise and arrange rates
and Ramsey rule to lower and rearrange rates ?
Hradly
The net fow change is a equity question
The loss is in fairness not efficiency
Oddly the second point
Looks like it's about efficiency and not equity eh ?
Nice going Nick
A clean reversal
from the real concerns
To their opposites
