Supply-side Economics, the 2017 Tax Act, and Beyond
Several of the 2017 Tax Act’s architects were prominent supply-side proponents during the Reagan tax cuts of the 1980s. The economic case for lower supply-side tax rates was based on Robert Mundell’s policy mix paradigm, which he created in 1962. Within that paradigm, the easy fiscal/tight monetary policy option was designed for situations involving either…
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