Why Expenditure Cuts Should Unite Left and Right
Greg Mankiw makes a compelling case in his recent NYTimes column that expenditure cuts (i.e. reducing tax exemptions) should please both political parties and both corresponding camps of society. A strong proposition along that line has been made by Obamas deficit reduction commission. Especially interesting: tax expenditures strongly favor people with high income. And Mankiw never even mentions the reduced hassle in filing taxes that would result from thinning out the expenditure forest!