Donald Trump – Modern Day Walpole?

Posted by freedomforall 7 years, 4 months ago to Government
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"can The Donald make good on his promises to the outraged voters who voted him into office this past Election Day? Can he restore economic growth, political legitimacy, tax justice, immigration sanity, and American greatness? He has taken a promising step with his new tax plan, say many conservatives. But in this writer’s view it is miniscule reform in light of what is really needed.

It is highly doubtful whether the GOP has fashioned something robust enough to genuinely restore economic growth. Our economy is suffering from monumental ideological fallacies plaguing us that stem from Keynesianism in the colleges, the Congress, the Federal Reserve, the Wall Street banks, and the media."
"Tax cuts necessitate spending cuts. Without them deficits will explode as sure as mushroom clouds will shoot skyward from nuclear blasts. Reagan’s brilliant Director of the Office of Management and Budget, David Stockman, has attested to this truth over the past several decades with searing logic in The Triumph of Politics: Why the Reagan Revolution Failed (1986) and The Great Deformation: The Corruption of Capitalism in America (2013). Unfortunately his message is ignored by an obtusely corrupt Congress. Thus the National Debt for our country will continue to grow unless our politicians bring their spending incontinence under control when seeking to reduce oppressive taxes from the federal government."
"Our conclusion is that economic growth via supply-side economics is not “healthy growth” if deficits and the total debt of the country explode in the bargain. Laffer’s supply-side economics is not the answer to Keynes’ demand-side economics. Both lead to massive deficits. The answer is to restore a free market, and the economy will produce constant and substantive growth without the need to stimulate the demand side or the supply side."
SOURCE URL: https://afr.org/donald-trump-modern-day-walpole/


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