And that is why he advocated increasing taxes during expanding economic growth and to decrease them when the economy was in contraction. Somewhere in the 1980's you loons came up with this notion that the Deficits did not matter as much as tax cuts.... that ignorance is catching up to you. Deficits only seem to matter when there is a democrat in office. Originally Posted by WTFYou're way too stupidly hyper-partisan to admit the simple truth that BOTH political parties have misappropriated Keynes. Politicians on both sides have taken Keynesian theory as license to run deficits in good years AND bad. Which is not what he prescribed.
By the way, even leaving tax rates unchanged can retard economic growth. Look up "fiscal drag". Over time, under a progressive rate system taxpayers will be pushed into higher and higher brackets. The AMT is a prime example of this phenomenon.