“When John McCain and Hillary Clinton suggested the 18 cent federal gas tax should be waived for the summer, over 300 economists signed an open letter denouncing the plan. These included four Nobel laureates, four current or past presidents of the American Economic Association, multiple past presidential economic advisers, and members of all political parties (not to mention many professors with whom I’ve taken courses). I find it hard to argue against any tax cuts, even those intended to be only temporary. I suppose it is possible to design degenerate cases, but in principle any cut in taxes, especially when accompanied by a cut in spending, leads to a smaller and more constitutional government with less possibility of corruption and violations of our rights.” (05/15/08)