On May 28, 7:58*am, "
wrote:
On May 27, 9:59*pm, SMS wrote:


*When Reagan took office the economy was in shambles.
Perhaps you missed the era of stagflation, ie high inflation, high
unemployment and low economic growth. *There is no doubt in any
reasonable persons mind that cutting taxes created an unprecedented
economic boom. *That in turn lead to a 40% increase in federal
revenue and a revitalization of the American economy. *Had taxes
been left at 70%, you would have had 8 years of low economic
growth, high unemployment, and far less tax revenue.

The same thing happened in the early 60's when JFK cut taxes.
Back then there were reasonable Democrats who understood
economics. *Sadly, today that is long gone. *Today, like you,
they believe in a static model, where if a tax at a rate of 35%
brings in X revenue, then raising it to 70% will bring in 2X.
That fallacy has been demonstrated time and time again
by states raising a variety of taxes, whether on income or
cigarettes, etc, *and NOT getting the revenue expected.



OK, so Regan cut taxes and ran the country into the highest debt than
ever before and is worshiped like a God by conservatives.

Obama does the same and is treated like a pariah by the same people.

-C-