Dear Ed: "Pre-Reagan Economics" Is When The National Debt Was LESS THAN $1 Trillion.

[rampartc]

1. thanks for your comments, troll buster

the "tax cuts stimulate the economy" mantra has very little basis in reality.

the usual laffer apologists offer a few examples, kennedy's tax cuts among them. it is wuse to remember that rax cuts never occur in a vacuum, that the kennedy era included a great deal of stimulative spending on nuclear weapons, the space program, and interstate hughways.

the reagan "cuts" (they were accompanied by a doubling in payroll taxes, still the most regressive of all taxes) were likewise passed in an era of incredible military spending that could not help but stimulate the economy.

to consider the 2001 cuts anything other than a fiscal disaster would be hard to explain, as they began the experiment that led to the total collapse of global capitalism in 2008.

an unrepentant keynesian, rampartc