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National Issue.(A)
By Paul Craig Roberts
Kevin Phillips is again having a hissy fit. He has a lot of them, but nothing brings them on like a Republican tax cut.
Kevin lost it 20 years ago when President Reagan set about making good on his campaign promise of an across-the-board reduction in tax rates. Now Kevin is losing it again as President Bush prepares to make good on his promise.
Writing in last Sunday's Los Angeles Times, Kevin undertakes to dissuade Repub
licans from their "tax cut mania" that he thinks ruined the economy under Reagan.
Kevin's definition of ruin is peculiar. He sees ruin through the eyes of two men who were not up to their jobs two decades ago.
One of these men is David Stockman. The other is Paul Volcker.
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