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for giving stuff away to their constituents? well, let s, let s go back to the very beginning. you know the classic conundrum here is diffuse benefits and the possibility of concentrated losses and of course the reverse it is easy to confer concentrated benefits which will then be defended ardently by their recipients and, what we had in 86 was a very, everything i say is provisional with gene sterling in the room but it is but politically speaking there was a there was a broad and i think pretty passionate group within the republican party that leased that the key to sustained, vigorous economic growth was significantly lower tax rates. right? that belief, that was the supply side movement in its youth. you know, words worth once wrote about the french revolution. it was very heaven to be alive during those days and i think a lot of young supply-siders genuinely believed they found the missing key to the secret of economic growth, non-inflationary economic growth after a
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