Captives of the Supply Side: Something laughable will happen at the first GOP debate on the economy.

[DeepModem Mom]

NYT op-ed: Captives of the Supply Side
By JONATHAN CHAIT
Published: October 9, 2007


(Carl Wiens)

Washington -- REMEMBER the Republican presidential debate a few months ago, when three candidates raised their hands to indicate they didn’t believe in evolution? Something just as laughable is likely to happen today, at the first Republican debate on the economy. Every candidate will probably embrace the myth that cutting taxes increases government revenues. At the very least, no one will denounce it as a falsehood.

It’s been said for years that the Republican nominating process is controlled by social conservatives, and that any aspiring nominee must kowtow to their demands. But this year’s Republican primary is making it increasingly clear that a different tiny minority — the economic far right — truly calls the shots.

Last year, Senator John McCain earned widespread ridicule for publicly embracing Jerry Falwell, whom he had once described as “evil.” But an equally breathtaking turnabout occurred earlier in the year, when Mr. McCain embraced the Bush tax cuts he had once denounced as an unaffordable giveaway to the rich. In an interview with National Review, Mr. McCain justified his reversal by saying, “Tax cuts, starting with Kennedy, as we all know, increase revenues.” It was the political equivalent of Galileo conceding that the Sun does indeed revolve around the Earth.

Mr. McCain is not alone. Every major Republican contender — Rudy Giuliani, Fred Thompson, Mitt Romney — has said that the Bush tax cuts have caused government revenues to rise. No prominent Republican office-seeker dare challenge this dogma for fear of offending the economic far right.

Yet there is no more debate about this question among economists than there is debate about the existence of evolution among biologists. Most economists believe that it is theoretically possible for tax rates to be high enough that a reduction in rates could actually produce more revenues. But I do not know of any tenured economist in the United States who believes this is true of the Bush tax cuts....

http://www.nytimes.com/2007/10/09/opinion/09chait.html?hp

[Digit]

1. They can't blame this on Clenis, right?

Or can we be that naive?