Looking at long-run graph of the revenue & expenditure of the Federal government, it is almost as though the American political class in the wake of WWII decided that 18 % of GDP was as high as Federal taxation was going to go. And that deal has held.
nber.org/system/files/w… https://t.co/hzEU8V53UL
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…