Did Supply Side Work?

Did the Bush Tax Cuts increase revenues? I like this graph from Karl Smith:

He discusses it at length here.

As Arjun Jayadev graphs and discusses back here, the same effect is more dramatic when plotted as a percent of GDP:

It’s shocking that Sen. Mitch McConnell (R-KY) won’t admit this.

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2 Responses to Did Supply Side Work?

  1. Aroy says:

    Great charts. It’s unbelievable that this type of data, so easily and readily available, is not part of the mainstream discussion. One would think that any politician who makes the Laffer Curve argument that “tax cuts always pay for themselves” would be immediately fact checked by every reporter / media outlet, with the citation of this very easily available data like you cite here.

  2. Arturo says:

    If your intent is to undermine the typical supply side claim cited by Aroy above, OK…but are you assessing whether the Bush tax cuts “worked” solely in terms of effects on revenue to GDP? Randy Wray, who I believe is a fellow ND 2.0 contributor, took a more sanguine view of the ‘Bush deficits’: http://www.epicoalition.org/docs/opposition_to_the_bush_tax_cuts.htm

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