by Sunny Hundal

Right-wingers are fond of constantly citing the ‘Laffer curve’ – an economic model of taxation – as evidence that cutting taxes will raise revenue.

Nearly ten years ago the Republican President George W Bush made the same promise: that massive tax cuts aimed at America’s richest would stimulate the economy and raise government revenue.

But it did not quite work out like that, as the Associated Press reported soon after.

Bush’s tax cuts of course pushed the US economy deeply into the red and the national debt exploded.

The tax cuts eventually added $2.5 trillion to America’s national debt.

via Think Progress