Tax Cut Verdict
Our friend Don Luskin links to a wonderful summary of the positive economic effects of the 2003 Bush tax cuts. As a sample, Dan Clifton of the American Shareholder Association, who compiled the numbers, notes that since the '03 capital gains and dividend rate reductions, U.S. household wealth has risen $14,374,330,000,000 -- that's 14 trillion.
It must be said that part of this rise is due to an overly accommodative Fed and the resulting inflation and weaker dollar. Nevertheless, a huge success.
-Bret Swanson
