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But we saved everything 🙂.
Alan Reynolds challenges the idea that increasing taxes will boost a country’s national savings by reducing government borrowing.
He argues that this conventional approach misinterprets the relationship between taxes, current account deficits, and national savings, emphasizing that using higher taxes as a means to reduce deficits does not equate to actual increases in savings.
Reynolds has engaged in economic analysis and policy debate for several decades. In a previous outline of his career since 1971, he detailed ongoing involvement in economic history and discussion. His recent comments continue a lengthy track record of contributing to fiscal policy conversations.