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IPFS News Link • History

Larry Kudlow And Brian Domitrovic's 'JFK And The Reagan Revolution'

• arclein

It's hard to imagine any of this nowadays, but if you were for income tax cuts in the 1970s you were an oddball. Neither Democrats nor Republicans were in favor of reductions in the tax burden. Jimmy Carter and George H.W. Bush both said tax cuts would unleash inflationary pressures. No less than Alan Greenspan observed about tax cutting economist Arthur Laffer back then that "I don't know anyone who seriously believes his argument."