Lower taxes dont generate more revenue no matter how many times you say it. They generate deficits. Reagan knew this. The creation of deficits was intentional. The purpose was to demolish the New Deal programs that Senile Reagan despised.
Yes because I should listen to a clueless anon who want to deny reality and irgnore real economists (here, here, here, here, or hey even leftists like Krugman and Piketty admit it’s real…in fact I could go on endlessly but the fact is denying the Laffer Curve is like being an anti-vaxxer, you may be very convinced of your point anon but you’re still an idiot and have no actual on your side).
“ Reagan knew this“ No, he like any person who has even a passing understanding of economics knows that there is a point where if you raise taxes too high you take away people’s incentives to work and thus you get less work and less revenue. The curve does state there is a point where you can cut taxes enough that you also start taking in less revenue. Taxes should be set somewhere between this point where hurt growth and maximum revenue, probably close to the point where you begin to hurt growth…
“The creation of deficits was intentional.“ Did you forget your lithium today? No the intention was that growth would be fast enough to account for the growth in deficit. And I’ll admit Reagan, Kemp, and the rest didn’t go far enough in cutting the government to make this a reality.
“The purpose was to demolish the New Deal programs “ Partly sadly they didn’t get around to destroy those programs which still should be eradicated.
“ Senile Reagan despised.” I might concede the beginnings of senility in the last years of the 2nd term but all the economic work was done early in the first term. Further more hating terrible programs is a sign of reason not senility. You anon, however, I doubt have the excuse of advanced age for your idiocy.
Just face facts. Big government liberalism is a failure. It was a failure under FDR, it was a failure under LBJ, it was a failure under Barry, and it’s a failure under it’s latest high priest Donald Trump.
The answer to our problems is lower taxes, cutting government power and size and letting the free market work.