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Republicans’ tax insanity

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Ben Sargent - Tax Cuts for the Rich

Ben Sargent – Tax Cuts for the Rich

Earlier today…

Norquist’s actual power in Washington and within the GOP is illusory. In terms of stature and public prominence, he’s been a major beneficiary of the party’s opposition to tax increases – but he hasn’t been the driving force behind it. The real story of the GOP’s modern evolution on taxes played out in several stages, from the late 1970s to the early 1990s.

The first key moment was the advent of supply-side economics in the late ‘70s, the theory that minimizing income, corporate and investment taxes would result in perpetual economic growth that would benefit everyone. It was a fringe idea at first, championed by economist Arthur Laffer and a handful of Republican members of Congress, most notably Jack Kemp.

Via:
Republicans’ tax insanity – Salon.com
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Written by eggplant

December 5th, 2012 at 9:33 am

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