Implied Dissent

Tuesday, July 22, 2008

I'm a John Hussman fan. Yes, I know, who? He runs Hussman Funds and puts out a weekly market comment that is often insightful and useful. His comment this week was not one of his better ones. He argues against the 2001-2003 tax cuts. That's fine, I think they were a mixed bag. Or a few mixed bags. Hussman goes further and defends his benefiting from the tax cut from hypocrisy by saying he gave his own benefit to charity. There is no hypocrisy in accepting a tax cut you don't agree with. There is in thinking that there is and then giving the tax cut to anyone but the government. If you believe that that's the best use of the money, why would you give it anywhere else? Or do you think that you alone know what the best use of the money is, and everyone else is dumb and/or wasteful?

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