Combs Spouts Off

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Posts Tagged ‘tax cuts’

Remembering what worked: the supply-side revolution

Posted by Richard on March 15, 2014

In a recent Cato Policy Report, Brian Domitrovic contrasted the growth of government in the past 15 years with the comparable period before that, and suggested that what this country needs is another tax revolt:

For about 15 years now, the federal government, in all its myriad activities, has been in major expansion mode. The Federal Reserve, the regulatory apparatus, the tax code, the police and surveillance machinery of the state — all of these extensions of the government have broadened their reach, power, and ambition in significant fashion since the late 1990s.

The basic metric that reflects all this is the level of federal spending. In 2013 the government of the United States spent 55 percent more money — in real, inflation-adjusted terms — than it did in 1999. Economic growth in that 14-year span has been 30 percent. …

The moment is apt, then, to reclaim a tradition of our recent history, a tradition that the big-government 21st century is striving to suppress. This is the great successful effort to slow Leviathan of a generation and a half ago — the effort that gave us the Ronald Reagan revolution of the 1980s.

By all means, read the whole thing. But this graph clearly illustrates one of the key points:

gov. growth vs. econ. growth

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