So apparently, contrary to dribs and drabs on napkins, supply-side economic theory actually works and comparative advantage in international trade extends to asymmetric information held by non-cooperative agents exhibiting moral hazard.
Also, freedom does flow like a mighty stream, except in Moscow, where it flows like the Don, and the FSB is a multi-National Enquirer. More interesting is the disinformation generated by a strategy of tension that continues as US governance gets corrupted by its usual kleptocrats.
If 1981 hits such as Endless Love and Bette Davis Eyes are suddenly bubbling to mind, it may be that Donald Trump’s victory in the 2016 presidential race evokes images of Republican predecessor Ronald Reagan, if you’re of a certain age.
The theory: Lowering taxes for businesses and wealthy individuals leaves more cash in their pockets, spurring more investment and hiring, and the faster growth generates enough new tax income to pay for the cuts. The top tax rate under Reagan was slashed to 28% from 70%, and business deductions became more generous. About 16 million jobs were created during his two terms, and the economy grew as much as 7.3% in 1984.
Trump proposes chopping the top individual marginal rate to 33% from 40% — as well as more modest cuts for those with low and moderate incomes — and the corporate rate to 15% from 35%. The many small-business owners taxed at the individual rate also would pay 15%.
Apparently Orange GazBag coincidentally will decry “fake news” in his press conference on 11 January even if promulgated by his supporters, enablers, or handlers — yet won’t offset the memory of PBO’s farewell address except to remind us that there’s plenty to Resist for four years.