George F. Will, a humor columnist for the Washington Post, notes that interest payments on the federal debt in a recent year were equal to approximately one half of all personal income tax receipts. He concludes that this represents “a transfer of wealth from labor to capital unprecedented in U.S. history. Tax revenues are being collected from average Americans and given to the buyers of U.S. government bonds—buyers in Beverly Hills, Lake Forest, Shaker Heights, and Grosse Point, and Tokyo and Riyadh.” Suppose it were the case that the Washington Post employed a columnist who viewed thinking as part of his job. What might such a columnist reply?

  • CreatedFebruary 21, 2014
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