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What ‘dynamic snoring’ has to do with the proposed tax changes

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“Dynamic snoring?” This is a clever term for the reaction of half of America to anything involving math -- which, in this case, is the tax policy term, “dynamic scoring.” What's dynamic scoring? Dynamic scoring tries to take into account changes in economic behavior resulting from changes in taxes. In any attempt to change tax law -- cut, raise, or reform -- a struggle begins immediately: What will be the revenue result? Static analysis assumes simple extension of current law. Cut a tax percentage, multiply the new percentage times the base of the tax (income, sales, capital gains...), compare to current revenue to figure out how much money we gave back. Or increased. Then the riot starts. The Reagan cuts The biggest-ever riot resulted from the 1981 Reagan cuts, “supply-siders” led by Arthur Laffer claiming that if we cut taxes the economy would grow faster, so would the tax base, and so a tax cut would result in more revenue! Critics replied: so, if we cut...