Supply Side in a Nutshell
By Rob Cordry:
Sounds like somebody here is unfamiliar with the work of Milton Friedman and the Chicago school.
Simply put, Jon, supply side economics is when a President cuts taxes. This makes people happy, and him popular. The tax cuts deprive the government of money, and after eight years the deficit balloons to astronomical size. Then, with the economy in tatters, a Democrat is elected. He has to cut the deficit by raising taxes, making people unhappy, and him unpopular, perfectly setting up the next election, when a Republican uses the Democrats tax hikes against them to win back the White House, and start the circle all over again.
Four men won Nobel Prizes for that, Jon.