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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"Rand Paul’s Supply-side Distortion"
Rand Pauls Supply-side Distortionhttp://www.factcheck.org/2014/04/rand-pauls-supply-side-distortion/
"SNIP.....................
Kentucky Sen. Rand Paul claimed that 20 million jobs were created after President Ronald Reagans dramatic tax cuts in the 1980s, and that this was the last time such job growth took place. Paul is wrong on both counts.
The fact is that the economy added just over 16.1 million jobs under the tax-cutting Reagan, but it added nearly 22.9 million under Democratic President Bill Clinton, who raised taxes.
Supply-side Myth
Pauls misinformed recitation of economic history came during an April 12 Freedom Summit gathering of 2016 Republican presidential prospects in Manchester, N.H. It was a straightforward expression of the supply-side myth that tax cuts produce more revenue rather than less:
Paul, April 12: When is the last time in our country we created millions of jobs? It was under Ronald Reagan. What did Ronald Reagan do? Did he come forward and say: Oh, lets just cut taxes for low-income people? No, he said forthrightly lets cut everyones taxes. He did dramatically. The top rate thats what rich people pay was 70 percent, he lowered it to 50 percent. Then he lowered it again to 28 percent, and 20 million jobs were created. More revenue came in in fact. When you cut rates people work harder, they make more money, more revenue comes in.
....................SNIP"
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"Rand Paul’s Supply-side Distortion" (Original Post)
applegrove
Apr 2014
OP
Were It Not For Distortions, Ma'am, Paul Would Have Nothing To Say At All
The Magistrate
Apr 2014
#1
The Magistrate
(95,247 posts)1. Were It Not For Distortions, Ma'am, Paul Would Have Nothing To Say At All
"It ain't what you don't know, it's what you know that ain't so, gets you every time."
99Forever
(14,524 posts)2. It would funny...
... if so many of those now calling themselves "Democrats" didn't buy into the same Raygun Voodoo Economic bull shit. They call it ""austerity" these days, while handing the keys to the Treasury and our electoral process to the 1%.
GeorgeGist
(25,321 posts)3. Reagan with Alzheimer's was smarter than Rand.