Source: Economic Policy Institute, September 12, 2008
Two new reports from the EPI and the Center for American Progress (CAP) take a hard look at the effectiveness of “supply-side” tax cuts for the wealthy and find they fail to spur economic growth or increase tax revenues–as claimed repeatedly by political leaders on the right. The reports are being released today at a joint EPI/CAP event examining supply side tax cuts, featuring two former White House economic advisors, Larry Summers and Jeffrey Frankel. Read EPI’s Briefing Paper Tax-Cut Snake Oil and the joint EPI/CAP report Take a Walk on the Supply Side for more information. Check back on Monday for a video of the panel discussion, which includes an examination of related polling data.