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Page 6 · column 2 of 5 · from the scan, no model involved
Wiile we've begun to hear about the
trickle down" effects of George Bush's across the board tax cut plan, he seems to have scrupulously avoided the term "supply side economics," a subject of much discussion during the Reagan years. According to supply side theory, large tax cuts to business and the wealthy will result in increased spending and investment that will ultimately lead to economic growth, new jobs, and increased demand, all of which will sustain an increasingly vigorous economy.
Republicans no doubt stick to the argument that the tax breaks of the eighties led to the economic growth of the nineties, but I have my doubts. What the tax cuts of the eighties really did, when combined with major increases in defense spending for such as unproven star wars technology, was create a three trillion dollar national debt, a debt that will take more- than a generation to erase even if the economy
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