Here is what Business Week writer Brendan Greeley tells us about the effect of personal taxes on our economy: “Economists have known for a while that personal marginal tax rates, and in particular those on the rich, don’t seem to have much of an effect on the economy.”
In his Daily Beast article below, Michael Tomasky says that the presidential election has finally killed off Reaganomics which he further defines as “trickle down” economics which he also refers to as supply side economics and tax cuts for the rich.
This is a rare and fascinating interview with economist Robert A Mundell, the founder of supply side economics. It reinforces the point we made in an earlier post that supply siders often support massive government money printing and big government in general. Read More