Discussion in 'Economy' started by Toro, Aug 1, 2010.
The political genius of supply-side economics | Martin Wolf's Exchange | FT.com
I thought John and Yoko were the Keynesians in drag. or was that gurus?
All this talk about taxation and revenue into the government, little talk about spending and revenue from the government.
Yup, the Keynesians lost this one. Krugman was wrong.
Krugman is far worse than Keynes. He's like Keynes on steroids.
True, but that's how I think Keynes wanted things. He wanted his ideals to expand and evolve into this bastard set of "intellect" we now know. He was a huckster - a very smart huckster.
Actually history supports the Supply Side argument. The deficit under Reagan fell to its lowest point as a percentage of GDP since WW2. Reagan could barely rein in spending from the Democratic Congress and the deficit proceeded to explode.
So other than being wrong historically and theoretically the article is correct.
Supply side is sooo wrong Obama decided to go with tax cuts for 95% and faux promises of budget cuts. OK gotcha
These people will never accept the facts.
Their minds are made up.
this is garbage. The argument is about optimal tax levels to maximize growth, monetary stability and/or tax revenues in the shortrun vs. the longrun so there are a minimum of six different tax rate optima. So three things have to be determined:
what needs to be optimized
Is the goal shortrun or longrun
What data exists on the best way to get there?
What history is that, history on acid? Where do you get your "facts" from?
Reagan presided over the biggest budget deficits since WWII up until that time.
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