Nobel laureate Stiglitz weighs in.

[rogerashton]

I found this on a Google search for something else --

http://phoenix.swarthmore.edu/2004-10-07/news/14301

"For much of the evening, Stiglitz dissected the arguments in favor of the Bush tax cut. He began by debunking the current administration’s claims that the economy has actually grown over the past three years. While it is true that the economy has grown by about three percent a year since 2001, Stiglitz did not believe that this was significant growth. “Three percent is just running enough to stand still, and what we have been seeing is a rising unemployment rate,” he said. “The economy seems to reflect a choice of more unemployment and less growth.”

"Moving on to the specifics of the tax cut, Stiglitz mocked the theory behind giving money back to only the richest in society. “It’s called trickle-down economics, and it’s not true,” he said. “It’s not true in the 80s, and it’s not true today.”