Faith-Based Economics: The Theology Of Tax Cuts

• Reagan’s budget director, David Stockman, called out the republican party for tax cut “theology”, denying the fervently held belief that tax cuts for the rich pay for themselves and are necessary for economic growth.

• The former architect of Reagan’s fiscal policy criticized his own party for pushing the faulty logic that tax cuts work for every problem in every situation.

“After 1985, the Republican Party adopted the idea that tax cuts can solve the whole problem, and that therefore in the future, deficits didn’t matter and tax cuts would be the solution of first, second, and third resort.”

Reagan Budget Director: GOP Has Abandoned Fiscal Responsibility By Adopting ‘Theology’ Of Tax Cuts