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Re: more flaming politics
Hmmm. Cyberspace is really strange tonight. Did I get transported to a
political list by mistake?
keets
> It is truly amazing that this Reagan fallacy (aka Voodoo Economics)
>survives
> in spite of the fact that it is even more false now than it was in 1980.
>If
> you cut taxes and increase spending (ala Reagan-Bush) you increase the
> deficit and the national debt. If you increase deficit and debt, you
>raise
> > unemployment and interest rates. It happened 1980-1992.
>
>No fallacy - even Clinton paid some homage to it in a speech when he talked
>about how lower taxes have pumped more money into government coffers. To
>begin, supply side economics was created by Adam Smith many many years ago.
>Based on low taxes and growing the economy, history has shown well that it
>works and works every time it is implemeneted - providing the government
>spending is not increased to eat up the increased revenues. This Reagan
>did,
>which raised the debt. But almost every president has made government
>bigger
>since the Civil War.
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