- In 1993, conservatives predicted that Clinton's tax increase would cause a recession. Instead, of course, the economy boomed. Then George W. Bush cut tax rates, and conservatives predicted that this would cause the economy to boom. Rarely do events so utterly repudiate an economic theory. http://www.tnr.com/blog/jonathan-chait/78304/pat-toomeys-epistemic-closure 198 comments politics
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