The Tax Cut Myth05/21/08 Robert Lorei
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Ever since the Reagan presidency, tax cuts have become an article of faith for conservatives. According to conservative economists, tax cuts, especially for the wealthy, increase the capital available for investment, expand the economy and the benefits eventually reach the wider population.
Our guests have studied the federal tax cuts given to taxpayers during the last 27 years, and they have arrived at some interesting conclusions. One of which is that George Bushâ€™s tax cuts have put the American middle class in the worst financial straits since the great depression.
Bryan Jones is a distinguished professor of American politics at the University of Washington and Walter Williams is a distinguished fellow at the center for American politics and public policy. Theyâ€™ve written a book called the Politics of Bad Ideas: The Great Tax Cut Delusion and the Decline of Good Government in America.