January 22, 2007
Correction--Posner
There is a garble in the arithmetical example at the end of the fifth paragraph of my post on foreign aid. $23,000 - $2,000 = $1,000 should be $23,000 - $20,000 - $2,000 = $1,000. That is, when the welfare recipient's income rises from $20,000 to $23,000, he gains $3,000, but loses $2,000 because he is no longer eligible for the welfare benefit of $2,000. This leaves him with only $1,000 net from $3,000 in additional earnings, yielding a marginal tax rate of 67 percent.
Sorry for the mistake.
Posted by Richard Posner at 10:21 PM | Comments (3) | TrackBack (0)
Trackback Pings
TrackBack URL for this entry:
http://www.lessig.org/cgi-bin/mt/mt-tb.cgi/1468
Comments
it is good.
Posted by tom at January 25, 2007 05:43 AM | direct link
I Found Free PlayBoy Girls, you need view this.
Absolutely FREE PlayBoy & Penthouse:
http://www.girlsupdates.com/gateway.php
Posted by goblin at January 25, 2007 09:01 AM | direct link
This is not going to be good for your aura of infallibility...we're gonna have to fix that.
Posted by Haris at January 26, 2007 10:49 PM | direct link
