The former Fed chairman said he wants to see tax rates return to '90s levels in order to curtail the deficit.
I guess he hasn't heard the news about tax cuts paying for themselves?
Joan McCarter added, "Of course, note that [Greenspan] doesn't say that he was instrumental in enacting those major tax cuts. Bygones."
Right. The Bush tax cuts passed at least in part because Greenspan assured lawmakers the policy would improve the economy and that the nation could afford them. Republicans heralded his genius and followed his advice. We now know he, and they, were wrong.
Now, however, comes the fun part. Nearly a decade after following his guidance and passing reckless tax cuts that failed to produce, Republicans on the Hill get to scramble to tell us that Alan Greenspan has no idea what he's talking about.
We have a decade of evidence these tax cuts don't work. What is the GOP using to explain their position?
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