Hey Mitch McConnell: FIVE-Bush Economists Said Tax Cuts Did Grow the Deficit (The Atlantic)

[kpete]

Hey Mitch McConnell, Bush Economists Said Tax Cuts Did Grow the Deficit

Jul 14 2010, 10:36 AM ET |

.............

1) The Council of Economic Advisers' Report to the President, 2003: "Although the economy grows in response to tax reductions (because of higher consumption in the short run and improved incentives in the long run), it is unlikely to grow so much that lost tax revenue is completely recovered by the higher level of economic activity."
http://www.gpoaccess.gov/usbudget/fy04/pdf/2003_erp.pdf

2) The chair of CEA from 2003-2005, Greg Mankiw: "Some supply-siders like to claim that the distortionary effect of taxes is so large that increasing tax rates reduces tax revenue. Like most economists, I don't find that conclusion credible for most tax hikes, and I doubt Mr. Paulson does either."
http://gregmankiw.blogspot.com/2006/05/must-read.html

3) He's right! Hank Paulson, Bush's last Treasury Secretary, doesn't: "As a general rule, I don't believe that tax cuts pay for themselves."
http://www.marketwatch.com/story/paulson-vows-to-boost-us-competitiveness?dist=newsfinder%2CprintTop&siteid=google&keyword=&print=true

4) That opinion was shared by Andrew Samwick, Chief Economist on Council of Economic Advisers, 2003-2004: "No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one."...
http://voxbaby.blogspot.com/2007/01/new-years-plea.html

5) ... and Edward Lazear, chair of the Council of Economic Advisers in 2007: "I certainly would not claim that tax cuts pay for themselves."
http://www.csmonitor.com/2007/0625/p15s01-cogn.html?page=2

more plus links:
http://www.theatlantic.com/business/archive/2010/07/hey-mitch-mcconnell-bush-economists-said-tax-cuts-did-grow-the-deficit/59728/

[BrklynLiberal]

1. tsk tsk tsk..Stop confusing the poor man with FACTS!!!!

They create their own reality, they live in it..and expect everyone else to do the same.

[Atticus]

2. Now where have I seen that "create their own reality?" Oh, yeah:

http://www.dailykos.com/story/2004/10/22/1415/5817

[malaise]

3. ReTHUGS open their mouths

ReTHUGS lie!! He knows he's lying.