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Monday, 02 August 2010

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"Arthur Laffer in today's WSJ" ~ Comments

In a stunning turn of events, the Reagan-era lead supply-sider Arthur Laffer has penned an editorial for the WSJ coming out in favor of... tax cuts! Shocking.

But wait, it gets better! To shore up support for his claim, he gives a brief description of the Great Depression:

And then there's the Hoover/Roosevelt Great Depression. The Great Depression was precipitated by President Hoover in early 1930, when he signed into law the largest ever U.S. tax increase on traded products--the Smoot-Hawley Tariff. President Hoover then thought it would be clever to try to tax America into prosperity.

... I guess nothing very notable happened in 1929.

posted at: 21:05 Mon 02/Aug/2010

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