Greenspan Backs a Consumption Tax

Edmund L. Andrews:

“Many economists believe that a consumption tax would be best from the perspective of promoting economic growth – particularly if one were designing a system from scratch – because a consumption tax is likely to favor saving and capital formation,” Mr. Greenspan said.
But the Fed chairman warned that shifting to a new system would raise difficult “transition issues,” and he cautioned against “going for purity” in any kind of tax overhaul.

Telco’s have failed US on Broadband

Lessig:

Broadband is the perfect example. The private market has failed the US so far. At the beginning, we led the world in broadband deployment. But by 2004, we ranked an embarrassing 13th. There are many places, like Philadelphia, where service is lacking. And there are many places, like San Francisco, where competition is lacking. The result of the duopoly that currently defines “competition” is that prices and service suck. We’re the world’s leader in Internet technology – except that we’re not.