I mean, supply-side economics should have been killed by the Clinton years: he raised taxes on the rich, everyone on the right predicted catastrophe, and what followed was 8 years of rapid growth and surging revenues, with the budget actually moving into surplus for the first time in three decades. But no: the right interpreted all the good stuff as a lagged effect of the 1981 tax cut (which meant that LBJ deserved credit for Morning in America, but who’s counting?)
From Paul Krugman. It’s these sorts of things that have lead me to believe that the Republican agenda is always the same, no matter what the slogans. Slogans are for whipping up voters, not for simplifying actual policy preferences. Sigh.
(Source: The New York Times)
Keith Irwin
Plenty of tropes, not much Zen.
