Economics @ ITT

Why does the GOP hate taxes so much?

Posted in economics, macroeconomics, Policy Issues by ittecon on May 12, 2011

The bottom line, he says, is that these theories were tested, and recently. “In the 1990s, we raised taxes, particularly on the rich. And a lot of these people were saying our tax increases were going to kill the economy. But remember what actually happened? We got rid of our deficits and the economy grew really robustly for 10 years. And what if it happened again? We might get rid of our deficits and the economy would grow really robustly for another 10 years. Maybe it’s good for the economy to actually get the deficit under control.”

Article: Why does the GOP hate taxes so much? – Ezra Klein – The Washington Post.

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