Saturday, March 2, 2013

Democrats Endorse the Laffer Curve.


This is from Robert Caro's, "The Passage of Power,"
Kennedy's other major legislative priority had been a bill to reduce income and corporate taxes by a total of $11 billion per year, a reduction that many economists felt would provide a stimulus to the economy perhaps three times the amount of the reduction (about $33 billion per year, in other words) and would therefore not only ease a persistent unemployment problem but would also, despite the reduction in rates, increase tax revenue, thereby providing funds for the expansion of government spending on social programs liberals advocated.
One of the sillier tropes bandied around these days is the Republicans have turned extreme and the Democrats by implication have remain unchanged. Not so much silly, as ignorant.

Parties change in the US. Always have. If they don't they become the Federalists, or Whigs.


Oh, and this year's version of the Democrats are so intent on redistribution they are willing to sacrifice growth, that is a change.

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