Alan Greenspan has flip flopped an opinion.
In 2001, he was in favor of the Bush tax cuts. Now, he says they need to be eliminated.
As I do not believe in coincidence, I am forced to ponder why he would reverse his stance.
We all know that tax cuts are linked with economic growth and tax increases are linked to recession. Greenspan is not a fool - so he has to know these facts, too.
I would suggest there are several possibilities for why Greenspan would change his public opinion:
- Follow the money 1. Perhaps he can make more money in a recession.
- Follow the money 2. Perhaps he has been paid to make such a statement.
- Perhaps he is of an advanced enough age that his mind is slipping.
I refuse to think he has simply changed his opinion. Especially given his history of financial success. I am leaning toward the thought of wondering what he stands to gain from the tax increase that will happen when the tax cuts expire.
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