The rich get richer | Arkansas Blog

Friday, June 15, 2007

The rich get richer

Posted By on Fri, Jun 15, 2007 at 5:54 AM

NY Times: How taxpayer subsidies help pay for a rich man's private golf course in Oregon. Don't tell Arkansas officials about this. And a quote to note:

To be sure, said Martin S. Feldstein, a Harvard University economics professor and a former chief economic adviser to President Ronald Reagan, some government subsidies can be beneficial for society.

“A subsidy for flu vaccines is good,” he said, “because if you are vaccinated I am less likely to get flu by contagion.” But job subsidies are a drag on the economy, he added, “unless the local gain exceeds the loss in the rest of the nation.”


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