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Politics : View from the Center and Left

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To: Mary Cluney who wrote (94144)	11/5/2008 5:26:46 PM
From: TimF	of 541777

We have tried this right wing supply side, trickle down, economics the last eight years. Not really. We've spent a lot more over the past eight years. It does not work. It was one of the few things that has worked. Other government actions (going back at least as far as Carter or perhaps to FDR, and going forward to include Bush, and all the congresses over those years) lead to mortgage problems. Bush's spending led to increased government borrowing. Bush's regulation (such as Sarbanes-Oxley) added cost for busineses. All sorts of government action, including action initiated by Bush or pushed by him, didn't work. But those actions are different things from tax cuts. More generally the idea that we cut taxes at one point, then 5 years later you have a financial crisis, as an argument that tax cuts don't work is ridiculous. There is no connection from the former to the later.

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