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...Secretary Norman Ture, a leading proponent of supply-side economics as well as a principal architect of Reagan's 25% three-year tax cut, resigned for personal financial reasons. He follows Paul Craig Roberts, former Assistant Secretary of the Treasury for Economic Policy, as the second top supply-sider to leave the Administration this year. Said Ture of his resignation, in an ironic reference to the problems of the U.S. economy as a whole: "My outgoings are greater than my income...
...professional supply-side economists are not against social and anti-poverty programs: Reagan isn't even a good supply-sider. He is trying to implement opinions that were proved wrong at least 50 years ago, to cut welfare, food stamps. CETA jobs and training, and force poor people to earn honest livings in drug-dealing, prostitution, car theft and mugging. Some may find good careers as Mafia executives. In applying for jobs, poor people should be persuasive--would a Saturday Night Special be sufficient? No, I don't like Reagan's policies. Reaganomics is very socially destructive--it is class...
Asked to describe his politics, Loury said. "I resist giving an answer because it would do a deserve to the richness of my political views." He added, "I'm not a radical leftist, but I'm not a supply-sider either...
...Supply-side economics means different things to different people--especially David Stockman," economist Alan Reynolds, a supply-sider, told an audience of 25 last night in a talk sponsored by the Harvard-Radcliffe Conservative Club...
...years. Regan polished up some nuggets from Andrew Mellon, the Secretary of the Treasury of those exuberant days. One of them: "If the spirit of business adventure is killed, this country will cease to hold the foremost position in the world." That is the stuff to swell a supply-sider's heart...