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Coolidge thought budgets were virtuous. He had his econ straight. He didn't just cut taxes, he also cut the budget.
Amity Shlaes
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Amity Shlaes
Age: 64
Born: 1960
Born: September 10
Author
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Virtuous
Budgets
Straight
Taxes
Cutting
Didn
Econ
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Coolidge
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Budget
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If Coolidge were a stock, he'd be a buy. The experts have historically ranked Coolidge in the bottom quartile or bottom half of all presidents. But his economic performance and his statesmanship suggest Coolidge belongs in the top quarter of presidents. The disparity between the Coolidge price and Coolidge value is huge. So revision is warranted.
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Disillusionment can come as fast as a gust, but building faith that the government won't inflate again is like building a new sailboat, a project of years.
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In the end, all new schools, public or private, snobby or not, add value to the education market, making it bigger and more efficient, in the same way that Zuckerberg added wealth to the economy even for non-Facebook fans.
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Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.
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Everybody should pay some tax, just as everybody should vote.
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Anything can be done if you find friends to do it with.
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Coolidge was a federalist. You go back and read him and it's almost intimidating to write about him because he writes better himself than anyone. He's one of the best writers as presidents go.
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There's something unsettling about the education of a child who comfortably enumerates the rules for surviving zombie apocalypse but finds it uncomfortable to enumerate the rules of his grandparents' faith, if he knows them.
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In a way, Calvin Coolidge is better than Reagan. His tax rates were lower, and he cut budgets.
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Coolidge was a pragmatist. He didn't start out with a tax theory. But he observed over time that lower tax rates sometimes brought in extra revenue. The success of his and Treasury Secretary Andrew Mellon's experiment with rate cuts has been obscured by our modern history books.
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Right now we're concerned about budget. Right now we're concerned about the prospect of interest rate rise. We're concerned about government corruption, government handing out deals to specific groups. Coolidge fixed a problem like that. He came into a rough time and he, and Harding before him, fixed that by budgeting.
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Although unions may be good for a worker, singular, they are not always good for workers, plural. Especially when it comes to finding a job.
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Coolidge believed that government officials who tell themselves that spending benefits the economy delude themselves and the citizens. Government budgets promote human freedom.
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Coolidge showed that the best government was the one that got out of the way. When he refrained, the economy grew, the Ku Klux Klan faded, and Americans got Model A's and automobiles.
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Today we care about budgets more than anything. Our American future hangs on the ability of government to cut budget.
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People value Halloween, like Valentine's Day, because they can tell themselves that it's not merely secularized but actually secular, which is to say, not Christian, Jewish, Hindu or Muslim.
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