Supply-side economics is the belief that tax cuts will produce so much growth that total tax revenue will not decrease. This belief has been tested since 1980, and the results have been disastrous.
In 1980, the national debt was less than $1 trillion. In 2014, after 34 years of federal tax cuts that have not been paid for with cuts in spending, the national debt is more than $17 trillion.
The supporters of supply-side economics refuse to look at the facts.
And now we have the disaster in Kansas. Gov. Brownback believes that his huge tax cuts alone will attract new businesses. Has he ever heard of how important infrastructure is to attracting new businesses?
Does he really think that businessmen will want to locate in a state that is drastically cutting education and will no doubt have to do the same with road building?
When will these politicians face reality?
Bob Michaelsen, Denton