Tax cuts as public policy prescription for economic growth have been empirically proven ineffective for decades. Arthur Laffer's curve is a laugher indeed.
As James Rowen highlights, John Kovari, of the Public Policy Forum, finds more corroborating evidence to support this conclusion.
The fact that we as a society and as policy makers have to point out, over and over again, that tax cuts are not a panacea for growth is depressing. As Oliver Wendell Holmes stated, taxes are the price we pay for a civilized society.
It's time we revert back to an evidence-based policy-making environment. We cannot allow the Republicans, and the pliant media, to keep telling us black is white. This debate should have ended long ago.
(Blind faith in the tax cut mantra...yet another reason Scott Walker is unfit for governor.)
For Further Reading:
Because I Said So Is Not An Answer
Failing To Pass The Laffer Test
Scott Walker Puts Milwaukee County Residents at Risk
Slippery Scott Selling Snake Oil
Tax Cuts Don't Boost Revenues
Tax Cuts: Myths & Realities
Who's Laffer-ing Now?