“When Congress passed an $8,000 tax credit for first-time home buyers last winter, it was intended as a dose of shock therapy during a crisis. Now the question is becoming whether the housing market can function without it.” (New York Times, Wednesday)
If the housing industry can’t function without a special break, that’s an infallible sign it should be repealed.
FEE Timely Classic
“Why Are Economists So Misunderstood?” by Russell Roberts
