Reagan, Obama, Summers All Wrong on Tax Credit: Amity Shlaes
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A high quality, economically sensible tax cut. That’s the impression Barack Obama wants to convey about the business investment tax-credit plan the president announced last week.
Who can oppose the idea of letting companies expense 100 percent of the cost of their equipment purchases for a year? The plan sounds noble, as though it provides not only for the individual but also for general economic growth and productivity.