Re: NO NOBEL FOR KRUGMAN
Isn't it a shame when you can take something from a Noble Prize winner and instantly find the spin in his argument, thus exposing his bias.
Quote:The American analyst, who is a professor at Arizona State University and a researcher at the Federal Reserve Bank of Minneapolis, said a large tax cut in 1986 had lowered rates while collecting the same revenue.
A catagorically false statement meant to pursuade people to the failed supply side thinking.
In fact, Reagan RAISED taxes in 86'. Yep, he raised them. He closed corporate loopholes, thus creating an extra $120 Billion in tax revenues.
He lowered the income tax, but raised the corporate tax. This isn't increasing revenues by giving a tax cut ie supply side, it is masking one form of tax for another. It was in essence an anti free market approach to taxes.
Popular preception is that Reagan cut taxes, but this myth is debunked with facts. Like I said before, it's a shame when a Noble Prize winner spews out political rhetoric and lies which reveal his true bias.
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