The Tax Cut Fallacy

Paul Krugman's gem from yesterday's blog post:

If the economy is growing, and tax receipts are rising, then it shows that past tax cuts achieved wonders, plus the Laffer curve is right — so let’s cut taxes some more!

If the economy is shrinking, well, it needs a boost — and what better boost than another round of tax cuts!

Yup...in the Republican view of things, nothing can't be solved by a tax cut.