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Originally Posted by Adak
As J.F.Kennedy said when he cut taxes:
This is from his "A Rising Tide Lifts All Boats" speech, iirc.
It IS unintuitive that it would work this way, but we know that it DOES work this way, so try to accept it.
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Those who ignore lessons from history are doomed to repeat it. Predicted was what would happen with George Jr's tax cuts. By even citing well understood economic theory that predicts recessions. Predicted because the same recessionary effects occurred with Kennedy's tax cut. But soundbytes and ideologue rhetoric routinely ignores facts to preach a political agenda - to preach propaganda. The same ideology again ignores what happened with Kennedy's tax cut. Because extremist talk show hosts say so?
Reality posted on 11 April 2001 in
Laffer curve - the real laugh.
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The Laffer curve is promoted to youngsters who do not understand those above economic money games.
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11 years later. And another, who never learns from history, recites the same lies. Classic ideological politics. Soundbyte replaces knowledge and history. The next tax cut (on 11 April 2001) predicted a recession. It most certainly did. Big time.
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George Jr's tax cut is a bad thing - just as history has repeatedly demonstrated. Name a tax cut that did not result in recession.
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Back then it "IS" a bad thing. Today is "WAS" a bad thing. But only when one learns lessons from history - and ignores wacko extremist rhetoric.
Only propaganda and ideology 'proves' tax cuts cure economic malise. Especially when that malise is directly traceable to previous tax cuts and other fiscal mismanagement before 2007.
What do we know from history and a basic grasp of economics? Tax increases to pay for deficits result in long term growth - and then more jobs.