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Wanniski + Laffer + Cheney + Kemp + Reagan = Supply-side Revolution
a lively but simplified account, one that misses the point that US voters repeatedly supported parties carrying this banner, and defeated candidates decrying trickle-down schemes...
[i]American politics has been hijacked by a tiny coterie of right-wing economic extremists, some of them ideological zealots, others merely greedy, a few of them possibly insane. The scope of their triumph is breathtaking. Over the course of the last three decades, they have moved from the right-wing fringe to the commanding heights of the national agenda.
Notions that would have been laughed at a generation ago--that cutting taxes for the very rich is the best response to any and every economic circumstance or that it is perfectly appropriate to turn the most rapacious and self-interested elements of the business lobby into essentially an arm of the federal government--are now so pervasive, they barely attract any notice. [/i]
[ 11 September 2007: Message edited by: Geneva ]