Saturday, November 10, 2007

Tax Cuts Don't Work

"Aw Shucks, you know tax cuts don't work". That's what all the libs say.

Well, well this is an interesting article from the Opinion Journal

The Supply-Side Solution

Didn't Renaldus Magnus bring up supply side economics?
We miss you, Mr President.

If tax-cut strategies don't work, why are they so popular abroad?
BY STEPHEN MOORE
Friday, November 9, 2007 12:01 a.m. EST
I recently spoke with Mart Laar, the former prime minister of Estonia and the godfather of that nation's flat tax. The major opposition to his tax reform, he explained, was not the citizenry; rather it came from the economists and the other Wise Men of government.

"I was told, 'We cannot do a flat tax. It is untested. It will not work. It will cause budget deficits," Mr. Laar recalls. However, he believed it would work because of what he'd read about it in Milton Friedman's classic, "Free to Choose." And so, in 1994, Mr. Laar ignored the economic pundits and snapped into place a 23% flat tax. Estonia has since experienced one of the most rapid growth spurts of any nation in the world.

There's a lesson here for our country: Revolutionary ideas in economics, especially if they don't leverage the power of the state, are often resisted by the intellectual elite. Ronald Reagan discovered this in 1980 when he was ridiculed by the establishment for proposing cuts in marginal tax rates as a cure for the high inflation and economic malaise of the 1970s.

Link to a good read.

It's quite simple you lib's and candy's.
Lower taxes , more money in the peoples pockets.
Raise taxes ,less money in your pocket,
politicians think it's their money.
It's OUR MONEY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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