Word: taxed
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According to an online blog post by Jared Bernstein of the Economic Policy Institute, Mankiw had previously criticized certain supply-side arguments—namely, that lowering tax rates could actually generate more tax revenue—and then reversed his opinion while working in Washington...
...Bernstein] made a claim that I’d been inconsistent about the tax cuts and I don’t think I had been,” Mankiw said. “Being opposed to a tax cut as a policy and being critical of an argument for tax cuts are two different things...
Mankiw clarified on his own online blog that he opposed only the supply-side argument for tax cuts but that he thought the 2003 Bush tax cuts were justified for other reasons—though he himself was not actually an advisor to the President when those tax cuts were implemented...
...Brendan J. Nyhan, a political science graduate student at Duke University and frequent blogger, points out that while Mankiw said he was “skeptical” of the claim that tax cuts could pay for themselves during his Senate confirmation hearing, Mankiw also denied that the administration had used “self-financing” arguments...
Nyhan then lists on his blog specific quotes from then-Press Secretary Ari Fleisher, Vice President Dick Cheney, and President Bush, all of whom said in the early months of 2003 that the tax cuts would lead to more tax revenue...