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Wealth of Nations - 'Starve the Beast' Doesn't Work
When taxes were cut in 2001 and 2003, supporters of the policy made several arguments. Lower taxes would spur growth was one. Lower taxes are desirable in their own right was another; people should keep as much of their income as possible. And a third was that lower taxes help to keep government small. This idea -- "starve the beast" -- is popular in supply-side conservative circles. Some top-tier academic economists, including Robert Barro and Milton Friedman, no less, have endorsed it.
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