In one fell swoop, Illinoisans can reject the use of racist demagoguery from the White House and the failed theory of
supply-side economics.
Instead of waiting for
supply-side economics to arrive from the sky above, we could create it ourselves.
Notwithstanding the hollow promises of
supply-side economics, revenue-neutral fiscal initiatives that shifted the tax burden from one segment of the economy to another would have come much closer to real reform than the reduction of the overall revenue trajectory has.
He said they should have opted for "
supply-side economics"
For roughly 40 years, Republicans have embraced an overly simplified version of "
supply-side economics," which posits that tax cuts spur economic growth, which in turn generates additional tax revenue.
Mundell, the first articulator of
supply-side economics, recalled from his policy battles in the 1960s, the Keynesian policy he encountered "might have had some merits in a closed economy, but it was completely indefensible in an open economy." If a nation raises tax rates on the rich and takes over private investment opportunities, capital escapes to greener pastures offshore.
This is the old
supply-side economics which seems to be the basis of the Trabaho bill pending in Philippine Congress.
The world was caught in the frenzy of
supply-side economics. Tax rates were being slashed with the belief that high marginal rates discouraged work efforts and encouraged tax evasion.
Starting in the early 1970s, he followed closely and often wrote about major developments and events, including
supply-side economics and tax cuts, the fall of the Soviet Union, the various wars that the U.S.
Mass customisation originated in an era when
supply-side economics ruled: consumers benefited from a greater supply of goods and services at lower prices.
Recent Democratic administrations provide the counterpoint to "voodoo"
supply-side economics.
Since he is the author of "Reaganomics:
Supply-side Economics in Action" (1982), I find his analysis of the current tax proposals authoritative.