Posted on 04/14/2016 4:14:47 PM PDT by 2ndDivisionVet
In 1980, Ronald Reagan campaigned on a four point economic recovery plan. First, reduce tax rates, to increase incentives for job creation, investment, business start-ups and expansion, and wage growth due to the resulting increased demand for labor and increased productivity. Even liberal Keynesian economics holds that tax cuts are pro-growth.
Two, reduce regulatory costs and barriers to business, which can act as further tax cuts. Three, reduce federal spending, to reduce the government’s drain on the private sector. And four, restrain monetary policy to restore a stable value for the dollar.
After Reagan led adoption of those policies in 1981, by late 1982 the economy took off on what developed into an historic, 25 year, economic boom, which did not end until late 2007. The top tax rate of 70 percent when he entered office was reduced all the way to 28 percent, with only one more rate of 15 percent for the middle class. Inflation, which had soared to double digits in the 1970s, was cut in half by 1982, and cut in half again by 1983, never to be heard from again to this very day.
During the first 7 years alone, the economy grew by almost one-third, the equivalent of adding the entire economy of West Germany, the third-largest in the world at the time, to the U.S. economy. Nearly 20 million new jobs were created during the recovery, increasing U.S. civilian employment by almost 20 percent....
(Excerpt) Read more at dailycaller.com ...
Fox Poll today Trump 45, Cruz 27. Teddy the liar is finished.
Except that Ted is not going to be president 2017. Trump will get the nomination on the 1st ballot
2d- read Trumps plan ! We will get economic growth bigger than the 80’s.
Maybe Cruzers can make their own TV show like The West Wing. An alternate reality where Ted Cruz gets to be president. At least it’ll save you from having to realize how much a disappointment the real thing would be.
I believe it and like Reagan the next Democrat will get the credit.
Trump will do everything he can to prevent an economic boom. It would not be profitable for all of trumps holdings and people he pays off.
They must have, since Cruz will be mathematically dead in the water in a week or so.
Maybe he'll help get it through the senate.......
An economic boom from a Harvard lawyer? Color me skeptical.
But I do want him as AG or SCOTUS — maybe even as an apprentice president (VP).
Trump’s plan? You mean the one where he raises taxes on the rich and imposes single payer health care? /s
(Seriously, that’s how uninformed these low-info Cruz people are.)
How could that be (smirk). Cruz has been on a bash-Trump marathon. Cruz keeps saying he "won" 11 elections in a row...that he is positive Trump will never be the nominee.
He better write it up for the senate and send it to Trump
Looking back without providing a complete context, can be a disservice to readers.
There’s no mention that it was Carter who installed Volcker at the Fed, long before Reagan came into office.
There’s also no mention of early-80’s pressure that was put on the Fed, which led to M2 increases and which fueled the market, which is the same tactic as the QE which has backed Obama since 2009.
There’s no mention of the oil price collapse, which was the underlying cause of the mid-80’s consumer boom.
How about mention of how businesses became more profitable by playing the mergers and acquisitions game while dumping pensioners and cutting benefit packages from newly hired employees, which has increased draws on government programs like SSDI at this time.
There’s also no mention of unprecedented deficit spending (which set a trend that has stayed with us to this day).
Recall Lloyd Bentsen in 1988: “I’ll give you prosperity, if you let me write $200 billion in hot checks every year.”
So it’s OK if Reagan did it, but it should be criticized when Obama does it? I’m not convinced.
Because people in the hospitality business just hate it when more people have more money to spend in their facilities.
Good Grief. Do you Trump haters EVER have anything worth saying?
And also in that alternative reality based TV show, he can NOT be a globalist tool and will be free to do any of the things they dream he would do.
Good Grief. Do you Trump haters EVER have anything worth saying?
Ridiculously absurd in the extreme. Come on now, you can be a little more objective than that can’t you?
Presidents love economic booms because as John Kennedy so famously said “a rising tide lifts all boats”.
I am definitely not a Cruz fan, but if this is indeed, his tax plan, it’s exactly what we need to straighten out our economy. I’d rip out a few more departments and agencies too, like the EPA. I’d assign that task to Sarah. :-)
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