It's all dressed up in dramatic language about America's "sense of mission," but it's just the same old stuff -- higher taxes and more government control of the economy. And, of course, it's supported by the usual revisionist history.
It's a lie to say that the expansion "followed" the Clinton tax increases. The expansion began in March 1991 -- and Clinton didn't even take office until almost two years later (and his tax hikes weren't implemented until several months after that).
You'll see the supply-siders were dead right about the revenue effects of those tax hikes. As supply-side theory would predict, they resulted in virtually no greater tax revenues than had been expected before the hikes were conceived and enacted -- they were thus a deadweight loss to the economy.
The positive surprise versus expectations started in 1997 and the years after. What happened in 1997? A Republican congress cut the capital gains tax.
Be sure to see the link at the end of his post!
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