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1. Everything is linear. The idea that cutting the top tax rate from today's level, 35% ordinary income will produce the same result as a cut like Reagan's 70% to 28%. Many factors play into how well money moves through the economy. The only transactions that produce value directly are purchases...
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A few years ago I got really interested in Austrian Economics. It all seems very logical to me. But I have a question about ABC-theory. I understand that in a free market, interest rates are a function of the amount of money people save. This is a good thing because saving is postponed consumption, people...