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September 27, 2005

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If tax cuts increase revenue, then logically tax increases should decrease revenue. But the Clinton tax increase of the 1990s showed us that that isn't the case.

PS Don't spend so much time on this subject. Supply-siders are like creationists; they have a real problem with the actual evidence. They will never accept the truth.

Tax policy is overrated. Since 1980, the tax brackets have not changed sufficiently. We are never going to the tax levels that existed before 1980, and it is difficult to argue with the amount of economic growth that has occurred since that time. In this sense, the supply-siders won. No one is arguing for pre-1980 tax levels. That is a debate for dinosaurs.

Republicans said the Clinton tax increases would harm the economy, now the Democrats say the Bush tax cuts are harming the economy. Neither one of these claims is true. I would argue energy prices, the housing bubble, and the lack of coherent energy policy for the last twenty-five years are all more important issues than tax policy.

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