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Friday, February 29, 2008

Tax decline

Greg Mankiw points to a chart tracing the declining federal tax burden on the middle class. That helps explain why tax cuts aren't the big political seller they used to be. I note, however, that the graph has a Y-axis starting just below the data points, which makes the decline look steeper than if the axis started lower or at zero; I was taught in Econ class to be wary of graphs like that.

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