— Larry Kudlow (@larry_kudlow) March 15, 2018
— John Tamny (@johntamny) March 15, 2018
— Contra Krugman (@ContraKrugman) March 14, 2018
Larry Kudlow and Steve Moore in today’s Wall Street Journal.
Brian Domitrovic offers a concise history of tariffs at Forbes.com:
A tariff “for revenue” was one where a rate was set low enough for the good in question to flow into the country in sufficient quantity to bring in increasing receipts to the government. A “prohibitive” tariff was one that was so high, receipts would go up if a rate were lowered. The “Laffer curve” concept was the most discussed theorem in political-economic debates in the United States in the 19th century.
Today’s Larry Kudlow radio program:
Ryan Ellis at Forbes.com on the tax increases Democrats want to deliver:
Instead of figuring out how to raise taxes, Congressional Democrats would do better to work in a bipartisan manner to make the middle class and pro-jobs tax relief just passed into law permanent. A rising tide lifts all boats.
He took on New Jersey’s Clifford Case and forever changed the way Reagan conservatives talked about the economy.
But it was Bell’s role in the emergence of “supply-side economics” that cemented his stature in American politics. I rate him among the top four figures in that emergence, along with Jude Wanniski, editorial writer and commentator for The Wall Street Journal; his boss, Robert Bartley, who ran the Journal’s editorial page; Congressman Jack Kemp of New York, at that time famous mostly as a former NFL quarterback for the Buffalo Bills but later highly influential politically; and Bell.
Wanniski, a kinetic figure who operated in a constant state of intensity as if the fate of the world hinged on his latest insight, crafted the argument that America’s growing problem of “stagflation”—economic stagnation mixed with inflation—stemmed from insufficient attention to the supply side of the economy. He sold the idea to Bartley, who turned his editorial page into a kind of journalistic billboard on behalf of this outlier concept. Kemp, reading Wanniski’s Journal editorials (and a particularly influential piece of commentary by him in The National Observer), sought out Wanniski and Bartley with offers to press the cause in Congress. Then Jeff Bell became the first person to test the resonance of the concept on the hustings.