Liberals can't explain why their policies produce low growth--High taxes, regulation are economic killers

NY Times:

We’re in a Low-Growth World. How Did We Get Here?

Economic growth in advanced nations has been weaker for longer than it has been in the lifetime of most people on earth.
You want growth.  Cut corporate taxes.  That is what Ireland did and it has had spectacular growth.

If you look within the US, the low tax, low regulation states have better growth than the high tax high regulation states.  Compare the Growth in Texas with that in the large blue states like California, Illinois, and New York.

The Obama policies have harmed the US economy and Hillary Clinton is promising more of the tax and spend policies that have produced the low growth.  Her economic plan should be seen a scary in a realistic world.  Trump's incoherent response to them fails to make the obvious case that they do not work.

In the business world, the pricing of goods and services is subject to the law of diminishing returns.  If you set the price of an iPhone at $100,000 you will make more from each one sold, but you will sell substantially fewer phones meaning the company is likely to make less money and have a lower gross revenue too than if it sold them for $1,000 or less.

The Laffer curve makes this same point about tax revenue, but liberals continue to push for higher taxes despite the reduced economic output.


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