Conservanomics: A Church Without Bishops (but it\’s got Sarah Palin and Invisible Tax Fairies!)

Conservative economics has often felt like religious dogma, with its elevation of \”a rising tide lifts all boats\” to unintended extremes and its unfounded belief that lower tax rates create higher government revenue. But, at least as far as that second article of faith is concerned, Conservanomics is becoming a church without bishops. Leading conservative economists are abandoning the idea that lower rates create more revenue. Without its elders the \”less brings more\” tax school is becoming a decidedly fringe movement, the fiscal equivalent of a flying saucer cult.