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Art Laffer: “It’s A Slam Dunk”
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Apr 29, 2017 04:26:51   #
PeterS
 
Larry the Legend wrote:
I really don't want to get into this, but I will say this, Reagan cut taxes well in excess of the Laffer optimal level on purpose. He was not trying to maximize government income, he was cutting government down and reducing the burden of taxation. Government income was reduced drastically and so was government need of that income. Understand, Reagan knew exactly what he was doing. And it worked. The 'Reagan years' are fondly remembered as a time of freedom and prosperity. Now, can we please put this to bed, I'm s**k of it already.
I really don't want to get into this, but I will s... (show quote)

What are you talking about. Reagan expanded government spending which is one of the reasons debt exploded under him. Any prosperity came from government borrow and spend not from anything else.

The problem with this subject is that conservatives are totally divorced from reality. Any time government runs debt it's that debt, at least in part, that is driving the economy. During the Reagan era debt as a percentage of GDP went from 25.2 to 39.3 for a 55.9% total increase in debt. Conservatives like to think that it was the tax cut that was the driver of the economy but you can't increase debt by 7% per year and not have it be the principle driver to economic growth. And the sad thing about all this is that the use of debt to drive economic growth is a principle of Keynesian economics and the system they claimed to have moved away from. As I said, when it comes to economic conservatives are divorced from reality and why they should stay as far away from the subject as possible.

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Apr 29, 2017 17:37:18   #
Nickolai
 
PeterS wrote:
What are you talking about. Reagan expanded government spending which is one of the reasons debt exploded under him. Any prosperity came from government borrow and spend not from anything else.

The problem with this subject is that conservatives are totally divorced from reality. Any time government runs debt it's that debt, at least in part, that is driving the economy. During the Reagan era debt as a percentage of GDP went from 25.2 to 39.3 for a 55.9% total increase in debt. Conservatives like to think that it was the tax cut that was the driver of the economy but you can't increase debt by 7% per year and not have it be the principle driver to economic growth. And the sad thing about all this is that the use of debt to drive economic growth is a principle of Keynesian economics and the system they claimed to have moved away from. As I said, when it comes to economic conservatives are divorced from reality and why they should stay as far away from the subject as possible.
What are you talking about. Reagan expanded govern... (show quote)


But that's not they way conservatives see it. To them Reagan was the second coming and never did anything wrong

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