The Democrats have a real problem grasping this, their “Billionaire Dilemma”:
John Tamny has a new book coming out this week. Take a look at this book review by Steve Parkhurst at Big Jolly Politics.
Our friend Ralph Benko is out with a new book today, with co-author William Collier entitled The Capitalist Manifesto: The End of Class Warfare, Toward Universal Affluence. Though not exclusively about supply-side economics, there are some mentions that are worth noting, including this passage:
The Supply-side’s political quarterback, Jack Kemp, was a former labor leader as was its premier wide receiver, Ronald Reagan. The man who primarily propelled the reduction of the top marginal income tax rate (already down from 70%) from 50% to 28% was … US Senator Bill Bradley. He did so in partnership with Democratic center-left leader Democratic Representative Richard Gephardt.
Thus, Ronald Reagan’s greatest tax-rate cutting triumph got more of its impetus from the left than the right, resulting in a Senate victory margin of 98-2. This is how transformation happens.
Supply-side economics is capitalism and properly implemented is at the core at what would be a capitalism renaissance. Coffeehouse readers are encouraged to give this book a try and at its inexpensive price, give it as a gift this upcoming holiday.