barryqwalsh
Gold Member
- Sep 30, 2014
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During his failed bid for the 1980 Republican presidential nominationGeorge H W Bush described Ronald Reagan’s “supply side” doctrine – the claim that cutting taxes on high incomes would lead to spectacular economic growth, so that tax cuts would pay for themselves – as “voodoo economic policy”. Bush was right. Even rapid recovery from the 1981-82 recession was driven by interest-rate cuts, not tax cuts. Still, the voodoo faithful claimed vindication.
Conservatives in thrall to old black magic of voodoo economics
Conservatives in thrall to old black magic of voodoo economics