Wednesday, January 21, 2004
Why Bush is No JFK, Reason 357: Taxes
Great item in Slate from Friday Jan. 16 picking apart supply-siders' attempts to link the Bush Administration's tax cuts to the Kennedy cuts 40 years earlier. Like the ideas pushed by today's Democratic presidential candidates, Kennedy's plan, passed after his death in 1964, was to stimulate the economy by stimulating demand. I.e., putting more money back into the pockets of middle-class Americans. Whereas Bush's plan (and Reagan's before him) was to get the promote growth by giving the rich more to invest. A nice primer on the difference between supply- and demand-side economics.
-- 'Tax Cuts in Camelot?' (Slate)
Great item in Slate from Friday Jan. 16 picking apart supply-siders' attempts to link the Bush Administration's tax cuts to the Kennedy cuts 40 years earlier. Like the ideas pushed by today's Democratic presidential candidates, Kennedy's plan, passed after his death in 1964, was to stimulate the economy by stimulating demand. I.e., putting more money back into the pockets of middle-class Americans. Whereas Bush's plan (and Reagan's before him) was to get the promote growth by giving the rich more to invest. A nice primer on the difference between supply- and demand-side economics.
-- 'Tax Cuts in Camelot?' (Slate)
