Whither tax cuts?

Swedish economist Stefan Karlsson notes that as desirable as tax cuts are, they do not exist in a vacuum.  Which leads him to the following confident prediction:

…because the Republican defenders of the tax cuts refuse to recognize the negative effects from the spending increases and Greenspan's monetary policies, tax cuts will appear discredited when the economy sinks into a recession.

A shame, but his logic seems inescapable.  Decide for yourself.  

The Daily Reckoning