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Governments actually have very little control of the economy. They can tax stuff to discourage it, or adjust interest rates. Or governments can, you know, use
by cynicalkane 16y ago
Governments actually have very little control of the economy. They can tax stuff to discourage it, or adjust interest rates.
Or governments can, you know, use the legislature to control all legal economic activity. In particular, the US Congress has power over almost all commerce.
- anamax 16y ago> In particular, the US Congress has power over almost all commerce. And, post-Wickard, http://en.wikipedia.org/wiki/Wickard_v._Filburn http://en.wikipedia.org/wiki/Wickard_v._Filburn , all potential commerce. That case involves Wickard producing wheat for his own use. The court decided that his wheat growing can be regulated because he used that wheat instead of buying wheat. A lower court has upheld the Obamacare individual mandate tax on the same basis. (Since Obama says that the healthcare legislation is one of his significant achievements, Obamacare is giving him credit.)