David Stockman has been blasting GOP economic policy in recent years even going as far as to say that the GOP destroyed the US economy starting with Reagan and the supply-side economic mythology.
Paul Ryan?s Fairy-Tale Budget Plan
By DAVID A. STOCKMAN
Published: August 13, 2012
http://www.nytimes.com/2012/08/14/op...plan.html?_r=1
Reagan Budget Director: Paul Ryan
I believe Art Laffer is off the bandwagon as well.
it's ideological economic theory vs the use of historical empirical data and critical thinking. I've been saying this for the past 4 years that the supply-side tax cutters are just plain wrong as the US economy, interest rates, taxes, etc. are not the same in 2012 as in 1980.
Words from President Eisenhower 1954...
I agree with you, but I say 11 years. If tax cuts stimulate growth why havent the last 11 years been an explosion ? Even GHWBush called it Vodoo
those tax cuts worked to grow the wealth of those that received them, as was their original intention just like under Reagan. nothing but a "trojan horse to lower the rates for top earners" which were the exact words that Stockman used in his first book. Reagan even stated that the increase in the deficit was his "baby" and he hoped it would eventually grow so large to deficits so big as to eventually cause the end of the Big 3. and GWB did his part to further these goals of the neo-cons.Quote:
Originally Posted by niviceaas
That is an undeniable truth !Quote:
Originally Posted by LAM