Friday, May 17, 2013

Am I A Liberaltarian?

I had this old post from Scott Sumner's blog bookmarked for a long time with the intention to go read it later. It's mainly an argument that we should not tax capital gains, and it's a little information-dense for my short attention span, so I've put off reading it for a long time even though it looked interesting. I finally got around to reading it, but the thing that interested me the most wasn't his argument about capital gains taxes. It was a part at the end where he says this about the Democratic Party (he is a moderate libertarian):
It would only take four things to make me become a card-carrying Democrat:
1. If they dumped Keynesianism and favored using monetary policy to target NGDP
2. If they favored replacing our current tax system with a progressive consumption tax
3. If they favored replacing the public school monopoly with universal vouchers.
4. HSAs through forced saving plus subsidies for the lower incomes

What surprised me is that I would be fine with all of those changes. I already figured that if I lived someplace like California, I'd feel more conservative than I currently do. But this makes me wonder if I have much less in common with the "average" Democrat than I thought. I live in Texas where I don't personally know many Democrats, and I don't watch stuff like MSNBC or Michael Moore documentaries or whatever. When I think of "the Democratic Party" I largely think of the economics blogs I read, which I guess I should expect to not be a representative sample.

I may make my next few posts about each of the 4 items on Scott Sumner's list and why I think those are good ideas.

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