On taxes and incentives:
Tax rates aren't everything with regard to incentives to work. I would probably work at a 100% tax rate next to a nude modeling studio.
On Obama's proposal for demand-side tax cuts:
You've got to make it more worthwhile for someone to give up leisure time to work, or to give up consumption to invest. You've got to make the supply of work effort more attractive, and low-end tax cuts don't do that.
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