Voodoo Economics

Someone should stick a pin in Bush's brain (not Karl) to see if it's even there. Lessee...cut taxes and thereby increase tax revenue...does this mean I can pay off my debt by maxing out all my credit cards? Or default on my mortgage and wind up with a bigger house? Have my VW reposessed and get a Rolls Royce in return? What a country!


The Return Of Voodoo Economics

Nobody serious believes that tax cuts pay for themselves, as I noted last week. But most senior Republicans flunk this test of seriousness.

In January, George W. Bush declared that, "by cutting the taxes on the American people, this economy is strong, and the overall tax revenues have hit at record levels." Regrettably, this endorsement of what his dad called voodoo economics was not a one-time oversight. The next month, Bush told a New Hampshire audience, "You cut taxes and the tax revenues increase."

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