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An answer for your right-wing friends on tax cuts
If any of you have to deal with right-wing friends complaining that the stimulus package hasn't worked and that we need tax cuts, print out the chart linked below.
Paul Krugman gives a nice chart of how the unemployment rate increased about 3.5 percentage points after Reagan's tax cuts in 1981, going up steadily for 16 months after the cuts were made.
http://krugman.blogs.nytimes.com/2009/06/14/stimulus-history-lesson/
Paul Krugman gives a nice chart of how the unemployment rate increased about 3.5 percentage points after Reagan's tax cuts in 1981, going up steadily for 16 months after the cuts were made.
http://krugman.blogs.nytimes.com/2009/06/14/stimulus-history-lesson/
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that's a good chart, thanks.
June 14, 2009 9:06 PM | Reply | Permalink