Don Luskin on When the Boom Began
According to the proprietor of poorandstupid.com, who is anything but, it was in 2003, not 2001.
Here’s an excerpt from his latest National Review column:
It was the 2003 tax cuts on personal income, dividends, and capital gains. They were enacted into law in May 2003. The rest is history. Very prosperous history.
It’s really so simple. Tell people they will get to keep more of the fruits of their labors and the fruits of their investments, and they will labor more and invest more. The economy will grow.
It will grow despite the Sarbanes-Oxley Act. (but not, in my opinion, as fast as it could or should have. — Ed.) It will grow despite the ever-present threat of strike suits from the plaintiff’s bar — or from the Inquisitor General of the State of New York. It will grow despite how the Patriot Act makes it harder to move money and assets across national borders. It will grow despite threats of protectionism. It will grow.
Read the whole thing.
