>Maybe I just don't know how the economy really works, but wouldn't other
>good capitalists like this dude still invest in things like new hammer mills
>and the like even in the absence of tax cuts, since they expect returns on
>such investments? Of course, higher taxes=less available interest-free
>capital, but one can always cut back on luxury spending or even go to a
>bank...
The evidence is that tax cuts have minimal effects on investment. Investment is determined first by profit expectations and profits. Taxes can change the timing and the mix, but not all that significantly.
Doug