AEI’s Perry Ignores the Unseen
Cory Massimino | November 21st, 2014
In his classic essay, What is Seen and What is Not Seen, Frederic Bastiat remarks, “There is only one difference between a bad economist and a good one: The bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen.” The American Enterprise Institute’s Mark J. Perry finds himself on the “bad” side of Bastiat’s divide.
Perry concludes from a CBO federal income tax report that, “’the rich’ are paying beyond their fair share of the total tax burden, and we might want to start asking if the bottom 60% of ‘net recipient’ households are really paying their fair share.” But there is more to class analysis than taxes. Other government interventions lurk in the background, infecting every economic transaction. ...