In response to:

Prophets and Losses: Part II

Eleanor32 Wrote: Feb 06, 2013 10:26 AM
A good example of the few individuals who run local governments making poor decisions is local government building sports venues. When government gets in the sports arena building business it can saddle the people with millions of dollars of debt, which is supposed to be paid for by the user but the cost of which altogether too often ends up on the backs of the taxpayers. Some of these arenas make money, but a significant number do not.

Editor's Note: This column is part II in a series. Part I can be found here.

People on both sides of tax issues often speak of such things as a "$300 billion tax increase" or a "$500 billion tax decrease." That is fine if they are looking back at something that has already happened. But it can be sheer nonsense if they are talking about a proposed increase or decrease in the tax rate.

The government can only raise or lower the tax rate. Whether the actual tax revenues that the government will collect as a result will go up or...