The supply-side framework outlined in this paper does not include all the effects of taxation that economists would like to examine. Depending on one's perspective, the glass could be considered half-full as well as half-empty. But if the only "dynamic" thing the Joint Committee on Taxation did was to incorporate the detrimental effects of federal deficits on capital formation, this would be more than worth the effort.
It is certainly true that nothing has more effectively kept thepeace in Europe than NATO; and even if NATO is now destined fordestruction, it is probably a healthier state of affairs whenalliances and treaties can both live and die in response to theshifting interests of the nations than when a treaty isimmortalized and inoculated against change, like the Charter andConventions of the U.N.
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