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Eugene Steuerle's avatar

In the early 1980s, I managed (with mixed feelings) to bringing family policy into the tax code. The genesis was the almost accidental discovery that households with children had faced by far the larger tax increases in the postwar era…which then grabbed Reagan’ attention. The argument didn’t depend on trying to subsidize one group or the other but on a basic public finance principle now almost totally ignored: ability to pay. Resurrecting that attention to this principle would go a long way toward addressing how family Poliy might again receive the amount and TYPE of attention it deserves. Too much to put into a comment.

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Lily Carter's avatar

Consols are like the financial version of a time capsule except instead of burying something cool, we’re just passing down a century of debt. Great for pension funds, maybe, but in a world where economic cycles barely last a decade, betting on 100-year bonds feels like trying to predict the weather in 2125. Bold move.

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