Two
economists at Harvard looked at government fiscal policies in the OECD
countries (30) for a 37 year period. That is one hell of a data set.
What did they find?
* Fiscal stimulus based on tax cuts were more likely to increase GDP growth than spending increases. Keynes was wrong.
* Spending cuts with no tax increase are more likely to reduce deficits and debt than tax increases. Democratic policy makers are wrong.
* Reductions on the spending side are less likely to create recessions rather than increases on the tax side which are more likely to create recessions.
Like it or tell me you don't rely on data from 1,000 national historic data points.
What did they find?
* Fiscal stimulus based on tax cuts were more likely to increase GDP growth than spending increases. Keynes was wrong.
* Spending cuts with no tax increase are more likely to reduce deficits and debt than tax increases. Democratic policy makers are wrong.
* Reductions on the spending side are less likely to create recessions rather than increases on the tax side which are more likely to create recessions.
Like it or tell me you don't rely on data from 1,000 national historic data points.