From Forbes: Obama is an Awful Economic Historian.
However, I'm less certain that additional tax rate cuts are needed today. It would be better to get a semi-permanent tax code, instead of one riddled with expiration dates.
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1 comment:
Your supply-side economist probably could have made his point without hyperbole. For instance, the 1947 recession reflected the wrenching transformation from a war economy to consumer production. Even a zero tax rate and today's hapless version of the SEC wouldn't have prevented a downturn.
If my father could have bought his 1947 Studebaker convertible a year earlier, I'm sure he would have. Studebaker simply couldn't retool fast enough.
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