Before you hit the heady economics link in the title (much advised, though), know that the lead graphic in this post is the vévé of Legba, voodoo god of the crossroads. I painted this vévé on a guitar case I had that flipped out ZZ Top one night in the parking lot of a Memphis 7/11. I sold that guitar case to my old friend Steve LaVere, who did the Robert Johnson double CD re-release for Columbia.Anyway, Sebastian Mallaby, writing for the Washington Post, has penned important debunkings of the myth that tax cuts increase tax revenues, in the pieces "Don't Feed the Beast" and "The Return Of Voodoo Economics," based on studies by conservative economics experts. Scratch one talking point. Looks like we need to go the other way, in fact. Read up and weep.
UPDATE: Freedom's next move.
UPDATE: Bush’s Nominee For Treasury Secretary: ‘I Don’t Believe That Tax Cuts Pay For Themselves’
Great stuff.
ReplyDeletePut the WP koolaid down and step away.
ReplyDeleteOh, I think tax cuts work. What doesn't work is tax cuts with increased spending. Government's main problem is they spend money like a drunken sailor on shore leave.
Milton Friedman said it best, "History shows that over a long period of time government will spend whatever the tax system raises plus as much more as it can get away with."
Reagan's tax cuts worked, but would have worked better if the Dems hadn't increased spending with their newfound money. I hate to admit it, but today's Republicans don't appear to understand "spending cuts" either. It appears both sides of the aisle are the same on the spending issue.