Sunday, May 09, 2010

Tax Cuts And 'Starving The Beast'

Bruce Bartlett in argues that the Republican strategy of "Starve the Beast" (STB) is a failure and should be abandoned.
Starve the beast was a theory that seemed plausible when it was first formulated. But more than 30 years later it must be pronounced a total failure. There is not one iota of empirical evidence that it works the way it was supposed to, and there is growing evidence that its impact has been perverse--raising spending and making deficits worse. In short, STB is a completely bankrupt notion that belongs in the museum of discredited ideas, along with things like alchemy.
Anyone want to bet on the number of Republican politicians that will have the intellectual honesty to acknowledge this? My guess is zero.

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