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[sgtclub]

Originally posted by Sidd Finch
I would like you to see the data on that too.

Before you go spouting about the beauty of supply-side economics, you should read about just how of the deficit is due to tax cuts.

You were right on the data, I was right that supply-side theory does not go as far as to say that the cuts pay for themselves.

• Fable 1: The Reagan Administration Relied on "Pie-in-the-Sky" Predictions That Tax Rate Cuts Would Pay for Themselves
  
  Supply-siders predicted their tax cuts would pay for themselves. This was nonsense from day one, because the credible evidence overwhelmingly indicates that revenue feedbacks from tax cuts is 35 cents per dollar, at most. Are we really gullible enough to accept a free dinner while still suffering the indigestion from our "free" lunch? [23]
  
  This is one of the great enduring myths of Reaganomics: that the White House relied on wild supply-side assumptions regarding the revenue impact of the tax cuts. The Reagan administration never assumed that the tax cuts would pay for themselves. In fact, "America's New Beginning: A Program for Economic Recovery," the White House budget plan released on February 18, 1981, included a table entitled "Direct Revenue Effects of Proposed Tax Reductions." [24] That table predicted a huge $700 billion revenue loss from the tax cuts through 1986, as shown in Table 4.
  
  Table 4
  Reagan Administration's Scoring of the 1981 Tax Cut--Revenue Impact, in Billions of Dollars
  1981 1982 1983 1984 1985 1986 1981-86
  -8.8 -53.9 -100.0 -148.1 -185.7 -221.7 -718.2

http://www.cato.org/pubs/pas/pa-261.html