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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: Peter Dierks who wrote (43668)	6/8/2010 3:27:53 AM
From: RMF	Read Replies (1) \| Respond to of 71588

Wasn't it that Laffer guy that said if you just cut taxes everything will be O.K.? Since that Laffer guy got some influence in the 1980's our deficits have been growing and growing and growing. He's like a swimming coach where everbody DROWNS but you're supposed to stick with the program.

To: Peter Dierks who wrote (43668)	6/9/2010 12:09:02 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Laffer is probably overly negative, and definitely overly specific about the timing. There are always many other factors. The fact that higher taxes are negative for the economy, does not mean that after increasing taxes the economy is always going to do poorly. His basic idea about taxes and economic growth is clearly correct, but such specific predictions are too likely to undermine it in the minds of many if they don't come true. And yes I know both sides do it (Krugman predicted something like 7 out of the last 3 recessions...) but 1 - "They do it too" isn't a good reason to do it, and 2 - The media is more likely to gently treat or ignore the faults of "progressives" when they get it wrong, and trumpet their "wisdom" when they get it right, then they are to do so in the case of someone like Laffer.