"Supply-side economics had a good run, but continual tax cuts can no longer be the centerpiece of Republican economic policy."I am still waiting to see where "supply-side" economics did so well. Talking to an economics student friend of mine, he discussed an economist's study that proved that cutting taxes never makes up for the lost revenue. I think we are all agreed that there is such a thing as too much taxes and there is certainly such a thing as government waste. Republican concerns with those (well, they used to be concerned with government waste) are merited, but the fanciful belief that you can cut taxes and raise revenues is myth. Again, I have no doubt that you can squelch and shrink an economy with too much taxation, but the very belief in supply-side economics has started to rival the belief in America as a Christian nation and the existence of the yeti as favorite myths.
Part of that is the fault of Democrats for allowing the dialogue to be so controlled. They allowed the discussion of the public good to be supplanted with the basic rant that "taxes are bad."
At least Brooks admits that this constant call for tax cuts no longer works. I think he misunderstands his own party, as every Republican I see running for President uses tax cuts as a magical elixir and derides anyone who disagrees as someone who "will raise taxes." That is irresponsible--especially in a time when this President has spent 700 Billion dollars on two wars with seemingly no intention of paying for either.