I'm not sure when he wrote it, but Don Regan, who died Monday night, has a guest editorial in the WSJ today and it is available on OpinionJournal. He goes to bat for W's tax cuts as a replay to President Reagan's. And he takes a whack at Lord Keynes. How can you go wrong?
"Thanks to President Reagan, we know a lot more today, although it seems that many in Congress didn't get the memo. We know that tax cuts spur economic growth by improving incentives to work and invest and by making more money available for new ventures and small business, where the real job growth occurs in our economy. There are many examples of this in recent history, from the Kennedy tax cuts of 1962, through the Reagan cuts of 1981 and 1986. We also know that deficits do not cause inflation or cause interest rates to rise. Although the deficits during the Reagan period were higher (as a percentage of gross domestic product) than the deficits projected today, interest rates declined after the Reagan tax plan was adopted."