I believe Greg Leiserson does as well as anyone can to lay out how the PWBM reaches the very odd conclusion that deficit reduction at full employment slows growth over the next decade. It is not coherent: Penn Wharton Budget Model: The Wealth Tax Debate https://budgetmodel.wharton.upenn.edu/events-1/2019/11/14/the-wealth-tax-debate: 'Presidential candidates such as Elizabeth Warren and Bernie Sanders have proposed taxes on wealth. Why a wealth tax? Will it likely raise the money they hope? What are the trade-offs? What has been the experience of other countries?... Kimberly Burham... Greg Leiserson... Richard Prisinzano... Natasha Sarin...
#noted #2019-12-15
