Quote:
Originally posted by sgtclub
You really are going for "Cutest Poster of the Day" aren't you.
Huh? The paying for itself aspect (if, indeed, supply side theory even reaches that conclusion) means that there should be no revenue deficit purely as a result of the tax cuts. It does not mean that there isn't a need for spending prudence. If there was a deficit before the tax cuts, the tax cut is not a cure all.
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The tax cuts -- whether Bush's or Reagan's -- never came close to paying for the revenue they eliminated. Had spending remained exactly even, a virtual impossibility under our system of goverment, the deficits still would have grown.
But hey -- who am I to argue with a theory first expounded on a cocktail napkin?
