Economy Grows 20% in Last 3 Years!
Larry Kudlow at Townhall writes today about the booming US Economy:
Did you know that just over the past 11 quarters, dating back to the June 2003 Bush tax cuts, America has increased the size of its entire economy by 20
percent? In less than three years, the U.S. economic pie has expanded by $2.2 trillion, an output add-on that is roughly the same size as the total Chinese
economy, and much larger than the total economic size of nations like India, Mexico, Ireland and Belgium.
This is an extraordinary fact, although you may be reading it here first. Most in the mainstream media would rather tout the faults of American capitalism
than sing its praises. And of course, the media will almost always discuss supply-side tax cuts in negative terms, such as big budget deficits and static revenue
losses. But here’s another suppressed fact: Since the 2003 tax cuts, tax-revenue collections from the expanding economy have been surging at double-digit
rates, while the deficit is constantly being revised downward.
For those who bother to look, the economic power of lower-tax-rate incentives is once again working its magic. While most reporters obsess about a mild slowdown in housing, the big-bang story is a high-sizzle pick-up in private business investment,
which is directly traceable to Bush’s tax reform…
Hat Tip Friend of USA