Productivity Rate Quotes



This quotation is important as it provides a major counter-example to the ideological political belief that tax cuts and deregulation produce economic growth. Sometimes they do, but other times they do not. Ironically the greatest periods of growth in the last half of the 20th century included some of the highest rates of taxes. At other times high taxes curtailed growth. As with many political ideologies, they are really not principles or laws of nature or economics, but political preferences.