Yes, I understood it very well. The OECD has actually modelled this, and again, it depends. I'm sorry for putting all these caveats on it, but it depends on the economy you're studying--how big, how small, and so forth. I'm now saying this very tentatively, but I think the evidence suggests that the economy adjusts in the medium term and will generate higher growth that will offset it. But I leave that up to you and your colleagues, because now we're really getting into forecasting the impact of a reduction.
As I said, the OECD has modelled this, as has Dr. Devereux at Oxford, and I think their research is suggesting that the economy will compensate by generating additional growth greater than the amount of the taxes cut.