Quote:
But aren't incentives important? Won't people work harder if they get to keep more of their own money?

Incentives are important. Ultimately, economic growth, wealth, and prosperity come from the supply side of the economy and not the demand. But Jude turned that into something superficial. He argued that Republicans didn't have to be the party of root canals, warning the public about the dangers of deficit financing, or always saying no. Why don't we become the Santa Claus Party and give tax cuts to everybody? We'll win elections and live happily ever after -- well,I think that's just another variation of the Keynesian magic that the state can solve everything. There needs to be discipline. Economic growth, wealth, and prosperity take a lot of effort, sweat, and real-world endeavor over long periods.


This is bona fide Stockman - where he is right on the money.

As I have said before (though maybe not here, actually) Supply Side Economics is just Keynesianism for Corporatists.

Which doesnt mean I think taxes should be obscene in the leftist sense, but rather that huge deficit spending and thinking you are going to get a free lunch because real growth will outpace your deficit liabilities over time is just pie in the sky.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)