Tax-cut happy states aren’t booming.

[applegrove]

Tax-cut happy states aren’t booming.

http://civicskunkworks.com/tax-cut-happy-states-arent-booming/

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If states are supposed to be the laboratories of democracy, then red states should be worried about the results of their trickle down experiments. That’s Paul Krugman’s recent take on Texas’ underwhelming economic performance. Although the Lone Star State embraces the sacred trickle down principles of growth ( 1) lower taxes on the rich and 2) harsh treatment of the poor), employment growth in Texas has now dipped below the national average and a fall in leading indicators points to a further slowdown ahead.

Krugman is the first to acknowledge that while “in most states, this slowdown would be no big deal…everything is bigger in Texas, including inflated expectations, so the slowdown has come as something of a shock.”

The problem with this shock? The right will most likely ignore it, because even though trickle down policies have failed (over and over) to live up to their promises, the trickle down myth

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should have died long ago in the face of the facts, but just keeps shambling along. Nothing that has happened in the past quarter century has supported tax-cut mania, yet the doctrine’s hold on the Republican Party is stronger than ever. It would be foolish to expect recent events to make much difference.



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[Gothmog]

1. The Laffer Curve fas been proven wrong