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Martin Feldstein endorses tax expenditure analysis ...

... as well as generally cutting tax expenditures. Today's WSJ op-ed is available as such to subscribers only, but you can find the full text of it on Feldstein's webpage here.

Unfortunately, as a general matter only principled or genuine conservatives, rather than the right-wingers who play the role on TV and dominate the Republican Party, accept the central point of TE analysis that a targeted special-purpose tax cut is substantively equivalent to the hated "government spending."

Full post as published by Start Making Sense on July 20, 2010 (boomark / email).