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Politics : Formerly About Advanced Micro Devices
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PKRBKR
To: combjelly who wrote (821331)12/7/2014 5:28:42 PM
From: i-node1 Recommendation  Read Replies (1) of 1585090
 
>> There you go again i-node. Making up economic theory out of whole cloth. There is no evidence that what you are saying is even close to true. While in the past there were some economists who thought that tax cuts can pay for themselves, most have abandoned this viewpoint.

The Bush '03 cuts paid for themselves until the economic crash.

The Reagan tax cuts paid for themselves. Easily.

The JFK tax cuts paid for themselves.

One can define "tax cut" in such a way that you're view is correct: That is, there is no tax cut if static revenue increases. But just speaking generally and logically, the stimulative effect of tax cuts can and often will produce more revenue.

For example, I have argued [correctly] that eliminating of the corporate income tax would increase treasury revenue on an ongoing basis because of the dynamic effects (it would, of course, also result in repatriation of trillions in investment income to the US which would provide an ongoing benefit to our country). This isn't even a close call; we would easily make up more than the corporate tax collections (~200-250B/y) because of increased revenue in other areas from eliminating the drag on corporate profits.
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