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Op-ed Placement

The States Show Trump Tax Cut Will Work

BY Arthur Laffer and Stephen Moore
10/22/2017
Originally Published in CBN News by Arthur Laffer and Stephen Moore on 10/22/17.

One reason the two of us were so confident that Donald Trump's economic policies would be positive for workers, the economy and the stock market, is that we've seen first hand these policies work in the states. Many liberal economists have been insisting that Donald ‎Trump's promise of a 3 or 4 percent growth is a fantasy and that 2 percent growth is the best we can do.

But many red states that have already adopted Trumponomics have already been growing much faster than that. ‎These include states - like Florida, North Carolina,Tennessee, Texas and Utah. Meanwhile, states like‎ New York, New Jersey. Illinois and Rhode Island - to name a few - that have followed the liberal play book on taxes, regulation, energy, and labor policies right - continue to struggle.

That's because the states compete with one another. This competition is becoming more intense as businesses become more mobile. Toyota and Boeing are two high-profile employers in America that have crossed state borders because of the policy advantages of one state over another. Toyota moved from high-income-tax California to no-income-tax Texas, and Boeing, based in Washington, a forced-union state, opened a new plant in South Carolina, which has a right-to-work law.