I’ve been asked why I periodically mock politicians. The simple answer is that they often deserve our scorn.
It’s not that they’re evil or bad people, but their incentive structure generally leads them to make shallow, short-run, and self-serving decisions.
Such as setting tax rates so high that they even backfire on politicians (i.e., by discouraging economic activity and thus producing less revenue).
What Happens When Politicians Get too Greedy?
Other People’s Money and Foot Voting