And, although the historical record is hardly perfect, gold has often given early signals about the dollar. Finally, the author makes selective quotations alleging that republican tax policy is nothing but an attempt to relieve the tax burden of high earners. In particular, when the author wants to refute supply-side ideas, he adduces quotations that are critical and suggests that consensus opinion is dismissive of supply-side ideas.
Paul Krugman later summarized the situation: When you quote the criticisms that Paul Krugman made of supply side economics, is it possible that you are not aware that Krugman was engaged in a polemic with a specific set of people in a specific context?
Reaganomics[ edit ] It doesn't seem very encyclopedic. Thus the Wikipedia representative who defended the article as reflecting the majority report among academic economists is missing the point.
Jude Wanniski and many others advocate a zero capital gains rate. I've never made such an idiotic argument, and never will, so I can never know the pleasure. In regard to lower capital-gains tax rates, they believe that lower rates induce investors to deploy capital productively.
Is it a dead link, or merely an advertisement for this highbeam service? The fiscal policies of Republican Ronald Reagan were largely based on supply-side economics.
On the question of tax policy, supply-siders argue for lower marginal tax rates.
The two are not mutually exclusive, and this section should be removed. When Ronald Reagan was elected, the supply-siders got a chance to try out their ideas. It seems like a pretty decent overview by mainstream economic thought. Social Security and Medicare along with withdrawals for federal income taxes; some of the latter may be refunded when the annual tax return is filed.
However, this article is a case in point. His selection of authorities clearly is lopsided, but I don't think this is the most egregious flaw in his use of quotations.
A second point of more substance, Krugman's work significantly undercuts the importance of comparative advantage brief explanation. The supply-side history of economics since the early s hinges on the following key turning points: Reagan had enough votes to be veto-proof so he could have vetoed the budget until Congress passed a balance budget.
Tax cuts rarely pay for themselves.“Supply-side economics” is also used to describe how changes in marginal tax rates influence economic activity. Supply-side economists believe that high marginal tax rates strongly discourage income, output, and the efficiency of resource use.
Nov 13, · News about Supply-Side Economics, including commentary and archival articles published in The New York Times. Supply-side economics, Theory that focuses on influencing the supply of labour and goods, using tax cuts and benefit cuts as incentives to work and produce goods.
It was expounded by the U.S. economist Arthur Laffer (b. ) and implemented by Pres. Ronald Reagan in the s. Online shopping from a great selection at Books Store.
Laffer theory is a central theory for supply-side economics; no where does it say that this is the only central theory of supply-side economics or that the Laffer curve illustrates all supply-side theories, which seems to be what you are assuming.
“Some congressional Republicans have used supply-side economics to argue for either a steep reduction or an outright elimination of the capital gains tax rate as a .Download