Crazy talk

Ever wondered why most economists vote for Democrats in presidential elections? It's because they know that cutting taxes does not replace the revenue it loses. But Rudy Giuliani does not. He says that cutting taxes should only be supplemented by cutting other taxes if it wants to maximize revenue. His argument would seem to imply that a tax rate of 1% would generate even more revenue to the government. This is of course nonsense. Giuliani is playing to the crazy Republican base for the primaries -- and losing his head as he does so.