Lower taxes and spending are good for the economy. They produce strong expansion and will “grow” the country out of deficits. These were some of the Trump Administration promises. Those were also the promises of the GOP in the late 1970s in the runup to the election of President Reagan. Were they kept? Not exactly. Are these policies good for the economy and our economic liberty? The evidence is yes, but the problem is these policies were only partly followed. Both Reagan and Trump were influenced to cut taxes by celebrated supply side economist Arthur Laffer. But unfortunately both continued
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