Reagan's Supply-Side Guru: Raise Taxes on the Wealthy

"It’s just common-sense fact that when you raise the rates, you get more revenue. Normally, it’s a bad thing to do. But we are in such dire shape that we have no choice but to accept the negative trade-off…" — David Stockman

NYTIMES Nov 2010 | David Stockman has never been one to shy away from a roaring economic-policy debate. The former boy-wonder budget director in the first Reagan administration and the architect of Reagan’s supply-side economic policies, Stockman has been very busy lately rejecting the tax-cutting recommendations of Republicans in Washington and arguing that we must get our fiscal house in order or watch our way of life continue its decline. As an “imperialist power,” he says, America is in danger of being at “sundown.” Stockman, who turned 64 on Wednesday, has always been ahead of the curve on tax and fiscal issues, and it appears that he is ahead of…

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