notice that everything that happens is good for tax cuts.
If the economy is growing, and tax receipts are rising, then it shows that past tax cuts achieved wonders, plus the Laffer curve is right so let’s cut taxes some more!
If the economy is shrinking, well, it needs a boost and what better boost than another round of tax cuts!
See, cutting taxes is always good. It makes you wonder why we ever had taxes in the first place.
From The tax cut ratchet – Paul Krugman – Op-Ed Columnist – New York Times Blog
Krugman does a bang up job exposing the tax-cut ratchet. Or tax cut racket if you prefer.