Will Mitt Romney’s selection of Representative Paul Ryan as vice presidential candidate start a new debate on solutions to America’s economic problems-- persistently slow economic growth, trillion dollar deficits, and high unemployment?
If so, there is no better place to begin than the fundamental question addressed by my colleague, Rex Nutting , on August 13: Do lower taxes result in faster economic growth? He argued that tax rates have at best a small effect on economic growth. I beg to disagree. The academic and empirical evidence is clear: Lower taxes result in higher economic growth, all other things being equal.
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