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Democracy & Technology Blog Tax Cut Verdict

Our friend Don Luskin links to a wonderful summary of the positive economic effects of the 2003 Bush tax cuts. As a sample, Dan Clifton of the American Shareholder Association, who compiled the numbers, notes that since the ’03 capital gains and dividend rate reductions, U.S. household wealth has risen $14,374,330,000,000 — that’s 14 trillion.
It must be said that part of this rise is due to an overly accommodative Fed and the resulting inflation and weaker dollar. Nevertheless, a huge success.
-Bret Swanson

Bret Swanson

Bret Swanson is a Senior Fellow at Seattle's Discovery Institute, where he researches technology and economics and contributes to the Disco-Tech blog. He is currently writing a book on the abundance of the world economy, focusing on the Chinese boom and developing a new concept linking economics and information theory. Swanson writes frequently for the editorial page of The Wall Street Journal on topics ranging from broadband communications to monetary policy.