Hasn't your hypothesis been disproven multiple times, for the Reagan tax
cuts, the Bush tax cuts, and the Trump tax cuts, all of which failed to yield the predicted trickle-down effects, and had the not so salutary side effect of blowing up the deficit? Didn't the Clinton tax increases reduce the deficit, balance the budget at least temporarily, without the predicted chilling effect on the economy? Didn't the same thing happen w/r/t the Bush tax cuts during the Obama administration?
Given that the Trump tax cuts have not yet, and will now not be (now that the GOP controls the House through the 2024 election) rescinded, we don't yet have a THIRD proof of the fallacy of Laffer and Stockman's thesis, although they expire as set forth in the original bill in 2025, so perhaps a THIRD proof will be forthcoming.
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In response to this post by Los Angeles Hoo)
Posted: 02/08/2023 at 4:29PM