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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (290128)	8/25/2002 9:51:58 AM
From: TigerPaw	Respond to of 769670

a simple graph The Laffer curve was a simple idea, too simple. I agree that over taxation could be a problem and the tax code of the 1980's certainly needed simplification. It is ludicrous however to think that cutting taxes is the answer to every problem, and the simple minds that latch onto this simple graph come away with just that conclusion. The most important thing about taxes, fees, and government programs is the balance, not the absolute value of any one component. The stupid idea at the core of Reagan's tax reform was that he could throw this balance way off and that the rest of the system could compensate to come back in balance at some new level. It didn't work then, it isn't working now. Reagan's folly has never been his goal, the folly is in the execution. TP