A central revisionist myths that emerged from the 1980s Reagan era, and which was long a mainstay of GOP political oratory, has been resurrected by Wall Street bulls to explain how Trump can escape the Debt Trap we have been documenting in this series. Namely, that the deep tax cuts of 1981 had generated an extraordinary growth boom, causing surging revenues to pay for much of the initial loss.
Trump's $4 Trillion Fiscal Hole---Why "Cut" And "Replace" On Taxes Will Be An Even Bigger Debacle, Part 4
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.