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Politics : View from the Center and Left

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To: Dale Baker who wrote (6721)	12/13/2005 10:14:48 AM
From: TigerPaw	Read Replies (2) of 542054

That article presented the neocon economic theory much better than I was attempting to do. There is one little thing that I don't think it conveys completely. Supply-side economics is the friendly, attractive face of the tax-cut movement. I think that there are still people who bought into that nonsense about the Lafer curve and the notion that cutting taxes would bring in more revenue. What the supply-siders argued, however, was that there was a free lunch. Cutting marginal rates, they insisted, would lead to such a large increase in gross domestic product that it wouldn't be necessary to come up with offsetting spending cuts. This was what Krugman calls the "attractive face" but Strauss called the "noble lie". The neocons don't believe this, they agree it's voodoo economincs privately, but this is the story that they will unite behind in public. They think the public is too stupid to see through it. TP

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