McCain on the Laffer Curve
Tax cuts, starting with Kennedy, as we all know, increase revenues.The interviewer, however, did not ask the natural follow-up questions:
1. If you think the 2001 and 2003 tax cuts increased revenue, why did you vote against them?
2. If you think tax cuts increase revenue, why advocate spending restraint? Can't we pay for new spending programs with more tax cuts?
I doubt that, in fact, Senator McCain believes we are on the wrong side of the Laffer curve. But unfortunately, fealty to the most extreme supply-side views is de rigeur in some segments of the Republican party.