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They forgot that taxes were much higher in the prosperous 1960s...

Submitted by Ken Watts on Tue, 10/21/2008 - 13:51

[Some] bought into the theory that cutting taxes on the wealthy and corporations automatically increased investment and economic growth. They forgot that taxes were much higher in the prosperous 1960s, and that tax-cuts can cause the ballooning deficits (hugely generated by Ronald Reagan) that inflict their own pain on the economy.

Ralph Nader