Edward Conard

Top Ten New York Times Bestselling Author

  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
Upside of Inequality Unintended Consequences Oxford
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Edward Conard

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Americans Pay 26% Less Than the True Cost of Government

In a Wall Street Journal op-ed, economists Steve Hanke and Stephen Walters show how most Americans pay 26% less than the true cost of the government services they consume because politicians hide the true cost in long-term deficits. When taxpayers pay 26% less than the true cost of government—even less as they earn less—what incentive do they have to optimize government spending and taxes? I wrote about this in my book The Upside of Inequality (pp. 108 and 248).

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