In response to:

Prophets and Losses: Part II

Kevin 354 Wrote: Feb 06, 2013 8:31 AM
It is pure prophecy to speculate that a yet to be born nation will pay the debt which will have been put upon it, but to capitalize one which has no confidence of its own generation which is well aware, and in significant part, sympathetic to the posterity of all nations abused in this manner. This is not the age of liberal capitalism, but the age of progressive capitalism where the bank helps itself to forcast wealth upon a future people and take it for its own to lend to and forgive its favored customers. If such banking and economics should collapse, I prophecy it would only be with the assistance of the invisible hand of divine providence.

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...