It is always a paradox why government policy tends to be so uniformly pernicious. We are about to see an additional instance of that.

It is critical that we emphasize that it is impossible to precisely measure the net change in an economy brought on by a tax credit or any other policy alter since a lot of other economic changes are occurring simultaneously. It is not possible to know what the economy would have done had the policy not been adopted in the first location. We note that there is some uncertainty in the underlying data we use in this evaluation and, as we discussed in the nearby box, limitations to the strategies that are used to estimate indirect and induced economic effects. Lastly, any assessment of the complete economic worth of the chance expenses is inherently subjective, as we can’t know how foregone income may have otherwise been …