Glenn Reynolds accidently brings up a significant point concerning the interview in the New Republic by Nobel proze economist Edward Prescott.
Instapundit.com -: "In The Republic interview, he said such a policy would discourage people from working.
'It's easy to get over $200,000 in income with two wage earners in a household,' Prescott said. 'We want those highly educated, talented people to work.'"
Excuse me but what country is Mr. Prescott living in where it is easy for a two income family to top 200K$. The median income, las time I checked, was 40K$ and that means you would have to have about 5 full time eage earners in the household. The Bushies are touting this as proof that Kerry is off base concerning roll back of the top wage earner's tax cut. This should get little more air play.
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