America's financial bright spots

[Cogman]

http://spectator.org/archives/2010/07/28/the-timeless-principles-of-ame/

Great article. It really underlines several facts.
1. Tax cuts "For the rich" benefit everyone, not just the rich.
2. We have been the best off in our nation when we had lower taxes and lower spending.
3. We need to cut spend.

It mostly outlines the history of the 20->21 century american fiscal polices, what worked, and what didn't.

 

[Phokus]

Terrible article, there's a reason why supply side economists are at the fringes of their profession.

There were times when we had tax rates of 90%+ and the economy was good. You can cherry pick data points for low tax rates and high tax rates and of course the author completely ignores when the economy was strong with high tax rates.

With a top marginal tax rate of 35% it's at near historic lows

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213

I remember the early 90's when the economy was tough and the top marginal tax rate was slightly lower than it was during these past few years. Bush I got voted out of office because of the recession with such low tax rates and they even raised the tax rate afterwards and we had a booming economy soon after.

Cutting taxes for the rich doesn't do shit. The biggest problem is technology making jobs obsolete and jobs being outsourced to other countries.