This article(registration required) discusses the new CBO projections using dynamic analysis. The proposed tax cuts contributed very little to economic growth, which some hailed as the "death of the supply siders." I think the key issue here is to understnad that tax cuts do lead to growth, but only within a certain range. If tax rates are 80%, of course cuts will lead to growth. If rates are 10%, they probably won't. What level is ideal to maximize revenue growth? Unfortunately, the economy has too many variables to know for sure.
