TIME MAG CONSIDERS ECONOMIC THEORIES SUPPORTING MIDWEST TAX CUT TREND!!!
Time Mag Blog examines the theory behind the recent tax cut craze in the Midwest: "The prevailing spirit in the heartland these days belongs to economist Arthur Laffer, known in some quarters as the father of supply-side theory. Laffer’s argument, influential since the days of Ronald Reagan, holds that lower income tax rates lead eventually to higher government revenues, because what is lost by cutting rates is more than made up for by the resulting burst of economic activity. One of the driving forces behind the Missouri rate reductions, St. Louis billionaire Rex Sinquefield, studied under Laffer at the University of Chicago years ago; more recently, Brownback of Kansas hired Laffer to help him design his tax policy."
Among Democrat politicos near Kansas City . . . The economic theory is highly suspect given that the much anticipated "burst of economic activity" would have to bring in gains in the economy unprecedented in the past 20 years i.e. this could all be a GOP shell game that backfires at a horrific cost to schools and other important public services. The only thing that all politicos can agree upon is that they don't want to be held accountable for any decisions or promises they make if/when things don't work out.
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5 Comments:
What's in a name?
As usual, Time fails to comprehend the actual message Laffer was trying to make. His curve also demonstrates that there's a point at which you've cut taxes TOO much, which fails to maximize government revenues.
That's why it's called a "curve." It has a downslope.
Idiots.
I don't understand. If at some time in the future we find something that government can do well and we want done, then we can raise taxes.
Suck it folks! You elect shit, you get shit.
Liberalz don't really care about raising revenue, they are more concerned with punishing success.
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