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Or why tax cuts won’t pay for themselves.
It’s a great theory. Unfortunately it’s been debunked ever since 1980, when GHWB called Supply-side economics “Voodoo Economics”. Well, yeah, he was right and Reagan was wrong.
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Here we are mired in a “jobless recovery”, where more and more people out of work and homeless each week seems not to even be taken into account when determining how “the economy” is doing. The pundits are jumping up and down, celebrating the end of the recession, while at the same time any formula that took into account real unemployment and other human suffering would have us square in the middle of a depression.
How did we get this way? There are many ways to tell the story…
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