Yeah, I'm against those programs you mentioned above - medicare, social security, etc. And no, supply side economics does work in general. But of course your point about tax reduction is valid - one gains the most benefits in reducing very excessivly high taxes. This is simply because with taxes above say 50% people genuinely don't bother to make money above a certain level - or they simply flee. Capital flight is a big issue for socialist economies. You're probably right that reducing taxes from 39.5% to 35% isn't going to make a huge difference, but this is all part of supply side reasoning - the Laffer curve. Supply siders recognize that the tax reduction=more tax revenue doesn't work to infinity - obviously a 1% tax rate doesn't necessarily confiscate more than a 10% one. That's why it takes the form of a bell curve. I gaurantee that if you put the rates back up to 70% you'ld have an exodus of capital and the most productive individuals from the US.
What's more important recently has been the excellent reduction in Capital Gains taxes - really it is absurd that capital gains are taxed at all since a) they're mostly just inflation and b) its a tax on money that was already earned and taxed once. Similar to Estate Taxes.
Tax reductions on the poor and middle class are practically impossible because they pay hardly any tax already. Exempting them entirely tends to create a false impression that government spending is 'free', leading to a downward spiral towards socialism and a destruction of the source of wealth - capitalism.
Nice
