One of the few joys of living through the presidency of George W. Bush is celebrating the moment when he's inevitably proven wrong. As a prognosticator, Bush is somewhat less accurate than a Magic 8-Ball. Not only did Bush get everything about Iraq wrong, but he even declared the war over years prematurely. This is the man who though he could read Vladimir Putin's mind. "I looked the man in the eye. I found him to be very straight forward and trustworthy and we had a very good dialogue," Bush said. "I was able to get a sense of his soul."
Apparently, Bush's soul-sensing superpowers weren't strong enough to foresee that parking a missile defense system on Putin's borders wouldn't fly. "If the American nuclear potential grows in European territory, we have to give ourselves new targets in Europe," Bush's soulmate said at the time. "It is up to our military to define these targets, in addition to defining the choice between ballistic and cruise missiles."
So, it comes as no surprise that Bush was wrong about the effects of his top heavy tax cuts. See, Bush bought into this whole "supply-side" economic scheme, where you give more money to people who have plenty of money and it all "trickles down" to everyone else. Not surprisingly, this doesn't work.
In theory, the idea is that if you're an employer and can afford to expand or give everyone raises, then that's what you'll do. If you can afford to lower prices, you will. Except this isn't exactly logical. Say you run a company that's making money -- are you going to hire people you just because you can afford to? Are you going to give everyone a raise because you can? Only if you hate money. If there's nothing wrong with your business, why on earth would you "fix" it? Everything's going great, why screw with success?...
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