Economics @ ITT

Conservatives Are Not Against Big Government

Posted in economics, Income Redistribution, Policy Issues, Regulation, Taxation by ittecon on June 19, 2012

Conservatives just want to distribute income upwards instead of downwards.

[An] example of big government that conservatives support, highly paid professionals e.g. doctors, dentists and lawyers use licensing restrictions to limit both foreign and domestic competition. While the government has been using the banner of “free trade” to drive down the wages of manufacturing workers, it has simultaneously been increasing the protection afforded doctors in order to prevent any similar downward pressure on their wages.

If doctors in the United States were paid the same as doctors in Western Europe, it would save us more than $80 billion a year. The big government subsidy to doctors alone is close to two times the money involved in Bush’s tax cuts to the wealthy.

via Dean Baker: Liberals Working for the Right.

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