I have been harsh on the Nobel picks this year. But when the Nobel committee picks somebody worthy, I should applaud them, right? Because that would be fair and good. Okay, they picked a darn good guy for the Nobel Prize for Economics:
Edward Prescott, who picked up the Nobel Prize for Economics, said President George W. Bush’s tax rate cuts were “pretty small” and should have been bigger.
“What Bush has done has been not very big, it’s pretty small,” Prescott told CNBC financial news television.
“Tax rates were not cut enough,” he said.
Lower tax rates provided an incentive to work, Prescott said.
I like this guy! I hope he runs for office in ’08.