Chapter Five: Why Raising Taxes Lowers America’s Growth Rate
Besides death and taxes, this too is certain: The American economy will never return to its maximum prosperity until it completes a very broad-based tax reform. This essential insight inexorably flows from our analyses of America’s GDP Growth Driver equation and the Ten Levers of Growth.
As we have learned from those analyses, the American economy has entered a sustained period of slow GDP growth and zero income growth because of four significant structural imbalances ...
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