Snow's savvy grasp (John Snow, Treasury Secretary Nominee)

The Washington Times ^ | Dec. 15, 2002 | Alan Reynolds

[FairOpinion]

Initial reactions to the appointment of John Snow as Treasury secretary missed the point entirely. One fellow was quoted saying Mr. Snow is little more than a clone of Paul O'Neill, with a matching resume.

Really? Mr. O'Neill has a bachelor's degree in economics and a master's in public administration (bureaucracy), while Mr. Snow has a Ph.D. in economics and a law degree. John Snow is well qualified to participate in the formulation of policy, not just to be a better salesman for policies that others design. He will prove a more effective communicator than his predecessor because he is more likely to know what he is talking about.

[FairOpinion]

The article sets the record straight on a number of things. Goes to show you, that you can't believe everything you read. You get quite a different picture about Snow and Friedman from this article.

[McGavin999]

You consider Wall Street informed? After watching their performance over the past 5 years? Is this the same Wall Street that celebrated the purchasing of stocks that were priced way over their value? The same Wall Street that panic at every turn?

Wall Street is a bunch of over emotional amatures these days, not the real professionals they once were. There's about 2 handsful of savy knowing investors these days, the rest are kids right out of school who just play follow the leader.

[Wphile]

I am curious to know why his company not only paid no tax in the previous few years...

It's called depreciation. And, it's legal.

[PhilWill]

"Runaway spending, on the other hand, is a drag on the economy regardless how it is financed."

I was glad to see someone make that point - which seems to be lost in all the blame about the deficit.

I firmly believe these two things
1. If we want REAL economic stimulus, we should get serious about Fundamental Tax Reform, because that would have a far greater impact than any politically feasible tax cuts.
2. If we want real, sustainable long-term tax relief, we should get serious about spending restraints and even (gasp) cut-backs at the federal level.

If we would do both of these things, we wouldn't have to worry about the deficit.