We know, as an empirical fact, that the major expansions of the postwar era have followed reductions in income tax rates.

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But even if you accept Mr. Geithner's case that the well-to-do must pay more for their presumed "privilege" of being governed, his story ignores the empirical fact that they already do pay a record share of income taxes, even relative to their share of income.

WSJ: Lawrence Lindsey: Geithner and the 'Privilege' of Being American

In fact there is little empirical evidence that investors cause more than fleeting distortions to commodity prices.

ECONOMIST: The charge-sheet against commodity speculators is flimsy

The fact is that there is no empirical basis for financialism's underlying fundamental principles--that a corporation has no obligation to society other than to maximize short-term value for its shareholders, and that the capital markets should be their own sole regulators.

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In fact Thatcherism was (and is) essentially pragmatic and empirical.

WSJ: Paul Johnson: The World-Changing Margaret Thatcher