The Growth Experiment: How Tax Policy Is Transforming the U. S. Economy by Lawrence B. Lindsey

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Annotation

An analysis of the effect of the Reagan tax cuts on tax revenues, the budget deficit, inflation, and the economy.

Library Journal

This book adds to the growing evaluation of Ronald Reagan's presidency, particularly in regard to its economic legacy. Lindsey, a former Harvard economics professor who is now associate director of domestic economic policy for the White House's Office of Policy Development, analyzes the 1981 tax cuts and, not surprisingly, argues that the economic impact of the cuts is positive and long-lasting. He sets forth an exhaustive examination of how the tax cuts legitimized supply-side expectations--lower tax rates, he says, provided the incentive for people to work longer hours in order to save, spend, or invest the increased earnings. This book will be useful for specialists and scholars.-- Scott Hill, Univ. of California, Davis