Larry Kudlow was on today’s episode of The Cats Roundtable.
The Houston Chronicle has once again given space to Ed Hirs, who incorrectly attacked supply-side economics back in May, which we shared here. Today Hirs is using supply-side economics to attack the tax reform bills that will now be going to conference committee. Fair enough, but let’s not lie and make up our own facts along the way, Mr. Hirs. You will find today’s editorial by Hirs here.
Reagan, originally a New Deal Democrat, knew the benefit of Keynesian tax cuts but expediently called it supply-side economics.
Ronald Reagan attended Eureka College before the New Deal was a thing and before Keynesian economics was a thing. He had been educated in real economics, not the type of economics that would take over in left-leaning academia for the decades to follow.
If we are to take a cue from Broadway, it should be from Horace Vandergelder in “Hello Dolly,” who famously said, “Money is like manure; it’s not worth a thing unless it’s spread around encouraging young things to grow.”
Absent that spread around, trickle down, the economics of tax cuts for the rich simply do not add up.
There you go again, Ed. Anyway, feel free to enjoy the comments section where the editorial is posted.