The End Of Prosperity
Subtitle: How Higher Taxes Will Doom the Economy–If We Let It Happen
Arthur Laffer — father of supply-side economics and member of President Reagan’s Economic Policy Advisory Board — joins economist Stephen Moore of The Wall Street Journal editorial board and investment advisor Peter J. Tanous to send Americans an urgent message: We risk losing the exceptional standard of living that has made us the envy of the rest of the world if pro-growth policies of the last twenty-five years are reversed by a new president.
Since the early 1980s, the United States has experienced a wave of prosperity almost unprecedented in history in terms of wealth creation, new jobs, and improved living standards. Under the leadership of Presidents Ronald Reagan and Bill Clinton, Americans changed the incentive structure on taxes, inflation, and regulation, and as a result the economy roared back to life after the anti-growth, high-inflation 1970s.
Now the rest of the world is following the American economic growth model of lower tax rates, more economic freedom, and sound money. Paradoxically, one country is moving away from these growth policies and putting its prosperity at risk — America.
On the eve of a critical presidential election, Laffer, Moore, and Tanous provide factual information every American needs to understand exactly how we achieved the prosperity many people take for granted, and explain how policies of Democrats Barack Obama, Hillary Clinton, and Nancy Pelosi can cause America to lose its status as the world’s growth and job creation machine.