Tax cuts and economic growth
Of course see Mike Kimel’s Presimetrics, familiar to most AB readers, and posts at Angry Bear can be listed here
Paul Krugman write on the meme:
Update: And the Romney people respond with deep voodoo, invoking the supposed fabulous growth effects from his tax cuts. And who could argue? Remember how the economy tanked after Clinton raised taxes? Remember how great things were after Bush cut them? Oh, wait.
More seriously, we have lots of empirical work on the effects of tax changes at the top — and none of it supports the Romney camp’s claims. What we’ve just learned is that they were faking it all along. There is no plan to offset the tax cuts; Romney is just intending to blow up the deficit to lavish favors on the wealthy, then use it as an excuse to savage Social Security and Medicare.
A Men. Got that right Brother.
Yet, here I was just yesterday explaining to a young person who is in the beginnings of a good middle management job with a gobal company that her current financial condition has little to do with her taxes being too high from the money sent to the welfare recipient (they were worried about that alcoholic individual who would no longer need to get a job).
I noted that drinking may not be the best use of the money but at least it was generating economic activity within their neighborhood which works its way to benefiting her. I guess 6 degrees of Bacon was to far for them to see it.
Velocity!