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Originally Posted by sob
Your opinion is contradictory to the economic boom triggered by the Reagan tax cuts.
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And yours is right in line with the republican "economists" who put their hands over their eyes and claim that since they can't see the economy crumbling, it must not be.
Sure, there was an economic boom after the Reagan tax cuts. There's an economic boom after just about ANY tax cut. The problem is that people buying TV's does not increase the money the GOVERNMENT is getting.
If the GOVERNMENT reduces the amount of money the GOVERNMENT is getting while at the same time increases the amount of money the GOVERNMENT is spending, then the GOVERNMENT will go broke.
The economic boom created by Reaganomics was not sustainable, and that's why it was collapsing when Bush left office.