Posted on 08/11/2010 1:03:09 PM PDT by Recovering_Democrat
Art Laffer’s comments to this hit piece?
The obvious answer is no...thereby negating the benefit that the tax cuts could have for this Country as the created wealth off shored to China and India. Instead of domestic infrastructure improvement, we moved entire industries out of country. The tax cuts merely funded these moves.
Americans tried to maintain their standard of living using increased credit instead of increased wages. Corporations trying to have their cake and eat it too. And here we are.
It sounds like you are saying that raising taxes will lead to increased incomes. Please correct me if I’m wrong. Also, I’m not sure supply side economics qualifies as Keynesianism. If anything, Reagan was a change from the Keynesian tendencies of LBJ, Nixon, and Carter. The stagflation of the 1970s should’ve rendered the verdict on Keynesianism.
David Stockman misses the limelight he’s back wiht his Judas act. He’s a class A idiot.
Bush Tax RATE Cuts implemented in 2001 and 2003. Federal Tax Revenues increase from 1.75 Trillion in 2003 to 2.5 Trillion in 2008. 56 Months of Record Job Growth with an average Unemployment Rate of 5.5% during that period.
This Stockman guy should Obummer on the phone ASAP.
>This Stockman guy should GET Obummer on the phone ASAP<
Oops...
The fact is the US is not an island that can isolate itself. We have to compete in the rest of the world like it or lump it.
The reason we are failing to compete in the world isn’t because of “globalization”. It is because of endless regulation at every level of production and heavy taxation on what production still does occur. Try to paint something you produce in California. Try to build a structure for whatever purpose in California. Ever had the joy of trying to get through an environmental impact report? We can’t build a power plant in this country anymore.
We’re dying from a thousand cuts. Every year more and more is piled on the productive people/businesses.
Take the chains off the American people and they’ll compete just fine in the world.
Misleading. Republicans acted like tax-cutting Democrats. The solution is not to attack Republicans but spending. Stockman remains a useful idiot and pet of the left.
A double ping to your insightful comments.
IIRC, Stockman wasn’t on board with Supply Side economics, anyway.
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