Voodoo economics


Also found in: Thesaurus, Financial, Encyclopedia, Wikipedia.
Related to Voodoo economics: Reaganomics

Voo´doo economics


n.1.(Politics) an economic hypothesis, proposed by President Ronald Regan, that large cuts in tax rates would so stimulate the economy that the tax revenue on the increases in business and personal income would offset the anticipated tax revenue losses, so that such tax cuts would not increasing the federal budget deficit. Its believers do not consider the actual massive deficit increases subsequent to the 1982-83 tax cut as being caused by the tax cut itself, but by other governmental policies. This hypothesis was graphically illustrated by the Laffer curve.
Mentioned in ?
References in periodicals archive ?
If this far-fetched projection sounds like voodoo economics all over again, that's because it is.
It's telling that Republicans are already invoking voodoo economics to justify their as-yet-unspecified tax plans, insisting that tax cuts will pay for themselves by leading to higher economic growth.
In its own version of voodoo economics, the NCUA staff argues that the NCUSIF is taking on more risk by absorbing the assets and liabilities of the TCCUSF.
Mar-a-Lago, chocolate cake, missiles and voodoo economics.
With much the same enthusiasm as Ecuador's coup plotters and the rigidity of a dogmatic cleric, the critics of dollarization condemned it as something akin to voodoo economics.
were the wife" Well we've had voodoo economics, how about voodoo politics?
That said, it might be a good time to not hype the lottery anymore and sober up to the fact that lottery "earnings" are fickle at best and voodoo economics at worst.
Newport West Labour MP Paul Flynn interrupted Shadow Chancellor Ed Balls in the Commons to ask: "With all the voodoo economics and fiddles that have now been exposed, is not the Treasury exposed as the most disreputable massage parlour in Britain?
There weren't many outside of the political voodoo economics practitioners who thought PPACA would bring cost savings.
That means moving away from both the Anglo-Saxon model of laissez-faire and voodoo economics, and the continental European model of deficit-driven welfare states.
Lib Dem Nick Clegg is right when he called the Tory plans voodoo economics and accused them of being "the party of funny money and sums which don't add up".
Only theUnited Statesand theUnited Kingdom have employed a form of voodoo economics over the last 10 years, convincing us all that we were getting richer whereas in fact we now know that we have actually all been getting poorer.