Sunday, June 26, 2011
The record of RepubliCON false predictions on raising taxes.
Paul Krugman points to this revealing history of RepubliCON dire predictions about raising taxes: first with Reagan's own tax increases, and then with Clinton's tax increases. In both cases expansions followed. Since both tax increases in the last 30 years were followed by greater economic growth, treating it as a sacred truth that tax increases tank the economy is either a lie or stupid. It is particularly interesting that these observations come from Bruce Bartlett, one of the builders of supply side economics, who repudiates it in its current form. He worked for Ron Paul and Jack Kemp, and wrote the Kemp-Roth tax bill, the foundation of Reagan tax cuts.