For Republican supply-siders, denying that marginal tax rates are the sole way to induce or impede economic growth is equivalent to apostasy.

In the 1980s, under President Ronald Reagan, the supply-side tax cutters were in their element. As the debate rages anew — President Barack Obama wants to raise the top rate to 39.6 percent from 35 percent — the records of the incumbent president’s two predecessors give supply-siders political heartburn.

Continued:

http://www.bloomberg.com/news/2012-12-16/the-mythical-marginal-tax-rate-cure-all.html

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