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Perhaps I should be used to it by now, but once again some leftist has baldly asserted that supply side economics are nonsense. This morning it was Howard Dean on MSNBC.  He said supply side economics are “hooey”. But he wasn’t finished yet (this man is an accomplished demagogue).

He said Ronald Reagan proved they were “hooey”.

Well, let’s see what Reagan’s “hooey”, a.k.a. Reaganomics looked like:

In addition to the growth in GDP and jobs, the revenues to the Federal Treasury nearly doubled during the Reagan years. And note the explosion in both GDP growth and job creation in 1984. That was the second year after all of the Reagan tax cuts were in place.

Does Howard Dean know anything about economics (or, apparently, history)?

“Hooey”.

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2 comments
    1. I grant that the deficit increased substantially…but that’s obviously a separate question which has way more to do with the unchecked spending that has been a problem in Washington for decades. I wrote about that a bit recently: http://caffeinatedthoughts.com/?p=7954

      I also grant that the revenue increase is reduced when adjusted for inflation. I don’t think it obviates my argument in the least, however.

      Thanks for reading the post and taking the time to reply!!

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