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Trickle Down and Tax Cuts

William3299 Wrote: Oct 04, 2012 8:44 AM
What is the explanation for the lack of correlation of tax rates with GDP (as recently published?) Could it be that tax rates follow GDP in that politicians generally won't raise rates (or may lower them) when GDP is floundering?
Dr. Thomas Sowell's "'Trickle Down Theory' and 'Tax Cuts for the Rich'" has just been published by the Hoover Institution. Having read this short paper, the conclusion you must reach is that the term "trickle down theory" is simply a tool of charlatans and political hustlers.

Sowell states that "no such theory has been found in even the most voluminous and learned histories of economic theories." That's from a scholar who has published extensively in the history of economic thought. Several years ago, Sowell, in his syndicated column, challenged anyone to name an economist from any economic school of...