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Larry Kudlow: The Bush Tax Cuts Worked

bushFrom New York Magazine:

“Today, in an interview with Jim Tankersley, Kudlow provides the updated version of his theory. Kudlow’s biggest problem is that the United States recently had a president who closely followed his economic prescriptions, and the result was a mediocre recovery with stagnant wages culminating in a worldwide economic meltdown. Does this in any way cut against Kudlow’s belief in the stimulative power of marginal tax cuts? No, no, Kudlow explains. According to Tankersley, ‘Kudlow blames President Obama and his GOP predecessor, George W. Bush, for expanding safety net programs and discouraging work.’

Also, Kudlow ‘says Bush’s temporary and targeted 2001 and 2008 tax cuts failed, but that his big rate cuts in 2003 spurred a five-year boom.’ So, to sum up, Bush’s supply-side tax cuts worked. But he also passed non-supply-side tax cuts (in 2001) that failed, and he spent too much.

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