Tag: reaganomics
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Cutting Taxes Creates Growth: Yeah, Right
Cactus at Angry Bear does yeoman’s work yet again to drive a spike into the heart of voodoo/trickle-down/supply-side Reaganomic ideology, demonstrating what economists have known for decades: Keynes was right. Over the short term–one to three years–raising taxes hurts economic growth. Deficit spending (read: low taxes and high spending) promotes economic growth over the short…
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Who’s Fiscally Responsible?
This is old news, but here are the latest figures. Federal Debt: 1940–2019: (Updated 1/31/2010) Yet another of those telling inflection points in 1980. (With a brief respite in the late nineties.) The red line–Gross Debt–is the scary (and actual) one; it includes loans from government trust funds (mainly Social Security) that will have to…