The Economic Impact of Government Spending. INESS, April 2012. What is the Goal of Economic Policy?. To create conditions that encourage people to create wealth and improve their living standards.
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INESS, April 2012
The classical liberal vision of small government.
Or the welfare state vision of large government.
How should government be financed?
Broad-base and low-rate system designed to minimize distortions.
Or a tax code as a tool of social policy.Two Major Issues
There is a “Rahn Curve” relationship between government spending and economic growth similar to the “Laffer Curve” relationship between tax rates and tax revenue.The “Rahn Curve”
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