Flat Tax and the Deficit
We all know what happened in the ‘80s and its aftermath. The trickle-down theory strapped us with mounting debts and left the economy to stray away. Modified flat taxes eliminated the fairness of progressive tax theory. President Bush was perfectly correct when he termed the supply-side economics as voodoo economics in the 1980 primaries.
Finally Laffer’s curve turned out to be a “big laugh”!
NANDA SENATHI
Los Angeles
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