Growth is the Key to Success
Posted by Heather Edwards on October 17, 2010
Dan Henninger was right when he wrote in his recent Wall Street Journal article that there is only one economic policy that has not been tried yet in an effort to pull the American economy out of its tailspin: economic growth. With impending tax increases about to tighten the lid on pessimistic projections for the near future, he also correctly acknowledged the importance of strong economic growth for a nation, in contrast to the current mediocre growth in the US today, is indisputable among economists, and that it is vital for a nation to “do whatever it takes to get it:”
With it, we win, without it, we lose. Economist Paul Romer, in an article on economic growth, bluntly explained why: ‘For a nation, the choices that determine whether income doubles with every generation, or instead with every other generation, dwarf all other economic policy concerns.’
I agree with Henninger: Americans are best at competing, working and innovating. If they are supported by tax policies that enable them to freely do so, strong growth will again rebound.
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