Reply #4: Krugman

[Juche]

I know little about economics, but I remember Krugman saying this is true when Kennedy cut the income tax (91% down to 70%) and when Reagan cut it again (70% down to 50%) but after that it doesn't really matter, ie Bush's cutting it from 39.6% down to 35% made little/no difference.

I dislike Bush, but there is one good thing about the economy, from 2003-2008 the federal budget revenue increased from about 1.5 trillion up to 2.66 trillion.

I've heard a good deal of that is just due to the fact that corporate profits and millionaire salaries are through the roof, so they are paying more taxes.

http://www.cbo.gov/ftpdocs/81xx/doc8116/05-18-TaxRevenues.pdf