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Digging Deeper

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Steven Landsburg shows up in comments at Delong’s to defend his idiotic article. It was a pretty feeble effort, to be frank, until he took it up a notch with this:

You *can’t* tax rich people who don’t spend their wealth. You can only pretend to. If Scrooge hides all his money under a pillow,and you tax some of it away from him, you’re putting that money back into circulation and driving up prices. Scrooge is no worse off (he was never goingto spend that money anyway) but other holders of money ARE worse off. You canpretend you’ve taxed Scrooge, but you’ve really taxed those other moneyholders. 

I don’t even know which decoder ring I’m supposed to be using here.

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