Saturday, December 4, 2010

US federal gas tax: Wenzel, Murphy, and Mankiw

Greg Mankiw was Bush 43's chairman of the Council of Economic Advisors, is the author of the bestselling "economic" textbook in the US, a Keynesian.

Read this amusing post on Robert Wenzel's outstanding blog apropos the redoubtable Robert T. Murphy, Mankiw, and the federal gas tax:
[I]t appears that Mankiw misread a call for a 40 cent Federal tax...The Federal tax is as Murphy states 18.4 cents.

Bottom line: Murphy just went up against the number one economics textbook author, and his entire team of fact checkers, and body slammed the entire bunch.
[Photo of Bob Murphy:]

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