ECONOMIC ANALYSIS: State’s ‘circuit breaker’ law worsens flawed tax system
Fifty years ago, economist Charles Tiebout expressed a vision of how freeing local governments to pursue their own unique strategies for setting taxes and providing services could produce an efficient outcome much like the private marketplace. He called it “voting with your feet.” The idea was simple-by moving, people could sort themselves out and live in communities that came closest to providing the tax and expenditure combinations they valued most. Reality is quite a bit more complicated. When people move…