Libertarians and Tax Cuts

William Niskanen, chairman of the libertarian Cato Institute, appeared Sunday morning, along with AFL-CIO President John Sweeney, on a segment of ABC’s “This Week with Sam Donaldson and Cokie Roberts”. If I did not hear him incorrectly, he came out against lowering the capital gains tax. I don’t have the transcript, but I think his reason was something about such a tax cut not being the most effective way to get the economy going, that it would not have the greatest “stimulus,” something like that. I was aghast. I hope I misunderstood him. If anyone knows different, or has a transcript, email me and I’ll post a correction or follow-up.