Economics and Citizenship: Understanding the Issues
Economics may come in handiest when trying to understand what politicians are saying—and not saying. The awful truth, which almost no politician will utter, is that goods, services, or transfer payments from the government must be paid for with tax revenues and that individual taxpayers are the major source of those revenues.
So when a candidate or an official says that he can improve education without increasing taxes or reducing other government services, you will know that it can’t be done. When he says he can reduce taxes but doesn’t mention all the debt that will pile up as a result, you’ll know he’s leaving things out.
THE REAL WORLD
Tens of millions of middle-class U.S. voters have ...