And now for a post with a photo

ADDITIONAL INFO ADDED HOURS LATER: The WSJ and the White House do not believe tax cuts will increase revenues enough to offset losses from the reductions. Here’s the link. Shockingly enough, the $314 billion number in this post on the WSJ blog is strangely similar to the one Archie “called out” in the Times article posted below.

Here’s an interesting quoting of the footnotes in the White House’s review of the budget analysis we’re discussing here, from the Wall Street Journal blog:

Not if you read the fine print in the new White House midsession review of budget trends. “While difficult to estimate precisely,” Treasury long-run analyses of the effects of President Bush’s tax cuts “may ultimately” raise total national output of goods and services by 0.7%.

I should add that Bush evidently skipped the footnotes in the report and said:

And we encouraged economic expansion by cutting taxes on dividends and capital gains. Together, these tax cuts left nearly $1.1 trillion in the hands of American workers and families and small business owners, and they used this money to help fuel an economic resurgence that’s now in its 18th straight quarter of growth. The tax cuts we passed work.

ORIGINAL POST: I wrote about ten minuts ago that I sort of agree with Laffer and his notorious curve. If you’re not reading the comments following Archies taxes post below, then look at this picture.

This will be a second test

ADDITIONAL INFO ADDED HOURS LATER: The WSJ and the White House do not believe tax cuts will increase revenues enough to offset losses from the reductions. Here’s the link. Shockingly enough, the $314 billion number in this post on the WSJ blog is strangely similar to the one Archie “called out” in the Times article posted below.

Here’s an interesting quoting of the footnotes in the White House’s review of the budget analysis we’re discussing here, from the Wall Street Journal blog:

Not if you read the fine print in the new White House midsession review of budget trends. “While difficult to estimate precisely,” Treasury long-run analyses of the effects of President Bush’s tax cuts “may ultimately” raise total national output of goods and services by 0.7%.

I should add that Bush evidently skipped the footnotes in the report and said:

And we encouraged economic expansion by cutting taxes on dividends and capital gains. Together, these tax cuts left nearly $1.1 trillion in the hands of American workers and families and small business owners, and they used this money to help fuel an economic resurgence that’s now in its 18th straight quarter of growth. The tax cuts we passed work.

ORIGINAL POST: I wrote about ten minuts ago that I sort of agree with Laffer and his notorious curve. If you’re not reading the comments following Archies taxes post below, then look at this picture.

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