Before we cut taxes, though, we need to kill their ability to borrow. Keep the budget flat for a decade, zero out the deficit and grow the economy at 3.5%+ and our debt problems go away.
Over 10 years and our $16.8 trillion economy grows to nearly $23 trillion at 3.5% growth.
At 5% growth it goes to nearly $28 trillion.
If you just returned to the tax and regulatory policies in place at the end of Bush’s term, you’d see the economy grow by 5% in my opinion. If you hammered local codes/laws that limit and hurt commerce using the existing Commerce Clause laws/court cases you could grow even faster.
The hold back on the US economy is occurring in Democrat-controlled urban areas. Free those people and locations and watch a new golden era bloom.
“The hold back on the US economy is occurring in Democrat-controlled urban areas. Free those people and locations and watch a new golden era bloom.”
Those “lifetime takers” haven’t seen a W-2 in generations; nothing will free them except a complete cut in subsidies. It would be difficult, but they’d learn how to become responsible adults...