I see, however, that some commenters are declaring that it’s all OK because of thevoodoo“dynamic” effects of tax cuts for the wealthy. I guess my question is, what on earth would make anyone believe in that old nonsense at this point?I mean, we’ve had two fairly clear-cut tests in recent decades: the Clinton tax hike, which all the usual suspects said would produce disaster, and the Bush cuts, which would supposedly produce a wonderful boom. How did those turn out?
Also, the Romers have some careful new research looking at older data — the drastic tax swings of the interwar years — and find only small effects.
So let me rephrase my question: what conceivable evidence would convince people that supply-side magic doesn’t work?
Language Liberalism Freethought Birds Verbing Weirds Language only if you're expecting it to work in a simple way. This is a special case of the more general truth that Language Weirds. Only when a republic's life is in danger should a man uphold his government when it is in the wrong. There is no other time. The church says Earth is flat; but I have seen its shadow on the moon, and I have more confidence in a shadow than the church. If we can't find Heaven, there are always bluejays.
Wednesday, February 29, 2012
Yes, what?
Nice. Over at The Conscience of a Liberal Krugman asks:
Sadly, there is no conceivable evidence -- because many people are so attached to the "magic" that nothing will get through to them.
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