"You are smart people. You know that the tax cuts have not fueled record revenues â€¦ You know that the first order effect of cutting taxes is to lower tax revenues. We all agree that the ultimate reduction in tax revenues can be less than this first order effect, because lower tax rates encourage greater economic activity and thus expand the tax base. No thoughtful person believes that this possible offset more than compensated for the first effect for these tax cuts. Not a single one."

--

Source : "A New Year's Plea". voxbaby.blogspot.ru. January 03, 2007.

Andrew Samwick

#Smart Quotes #Believe Quotes #Cutting Quotes

“It is not that we propose a theory and Nature may shout NO; rather, we propose a maze of theories, and Nature may shout INCONSISTENT.”

Source : Imre Lakatos, John Worrall, Gregory Currie (1980). “The Methodology of Scientific Research Programmes: Volume 1: Philosophical Papers”, p.45, Cambridge University Press
“When we make a mistake, it becomes front-page news. We don't need any reporter telling us how badly we played.”
“All across America, we gather this week with the people we love to give thanks to God for the blessings in our lives.”
“Let us labor for that larger comprehension of truth, and that more thorough repudiation of error, which shall make the history of mankind a series of ascending developments.”
“Someone described Providence as the baptismal name of chance; no doubt some pious person will retort that chance is the nickname of Providence.”
“The lake of fire awaits my lady”
“The whole [Scotch] nation hitherto has been void of wit and humour, and even incapable of relishing it.”
“The source of genius is imagination alone.”

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