calling a tax holiday
"pushing taxes back"
as in
"we did not get a tax cut – only a tax shift.
Yes, government spending did not decline
so somebody will have to pay more in taxes someday."
this is half truth NK ism
at its most foul
the good old
foresight horizon
uncle sam budget constraint assumption
again
not recognizing
the power of Ponzi as sovereign
plus
the ever present option
of a sovereign
controlled real debt burn
thru
a managed acceleration
of
nominal wage and output price
inflation
plus
the FED's
total control
of
the array of nominal safe interest rates
ie
the time structure of safe rates
plus
the implicit
welfare enhancement theorem
when the production economies' default risk
is fully socialized
plus .......
