Ralph Benko has a timely piece today at Forbes.com:
According to the report of one Kemp insider, Reagan, on the verge of his presidential campaign, came to seek Kemp’s endorsement. The Reagan campaign’s purpose was to prevent Kemp from entering the race too, splitting the conservative base. Jack Kemp offered his endorsement in return for Reagan’s endorsement of the Kemp-Roth 30% across-the-board tax rate cut.
That policy was controversial among both Republicans and Democrats. It was famously attacked by Reagan’s chief rival for the 1980 presidential nomination, George H.W. Bush, as “voodoo economic policy.” Reagan, on the advice of his then-top advisors, reportedly intended to check Kemp’s box, pocket Kemp’s endorsement, and never mention the tax rate cut again.
Until, that is, President Carter attacked Reagan’s endorsement of Kemp-Roth as irresponsible. Reagan rose to its defense. Carter doubled down. So did Reagan.
And Dan Mitchell for the win!
Our friend, Senator Pat Toomey of Pennsylvania discussed tax reform, including SALT deducations, with John Catsimatidis on The Cats Roundtable. Listen to the discussion here (less than 10 minutes long).
🇺🇸 Happy Veteran’s Day! 🇺🇸
☕️ Another good read on tax reform. Wait until the end.
Keynesian Democrats caught lying about tax reform:
A good tax reform read at Forbes.com, not specific to supply-side by any mention, but myth-busting is important too:
Judy Shelton in today’s WSJ is very good. Lots of tax reform talk in other places as well (see links below Shelton editorial).
The Fed doesn’t need a ‘hawk’ or a ‘dove,’ but someone to hammer away for the dollar’s integrity.
Today’s opinion pages of the Wall Street Journal are worth the price of admission. See Larry Lindsey talk tax reform and see John Tamny talk about debt and the economic future in Puerto Rico.
Expect 3.2% growth, mostly taking the form of higher real wages. It happened in the 1960s.
Wiping out creditors would simply enable more dysfunction.