Recalling the Carter-Regean De-regulation and Tax Cutting Era

Phil Gramm and Micheal Solon:

But it wasn’t only the tax cuts, and it wasn’t only Reagan. To his credit, President Carter led the most significant deregulatory effort in the postwar era, reducing the regulatory burden on truckers, railroads, airlines and telecommunications, along with the interest rates paid by financial institutions. Reagan built on this Carter legacy by eliminating price controls on domestic oil and natural gas. These actions enhanced overall economic efficiency and amplified the effects of the 1981 tax cut and the 1986 tax reform.

But then they end with a too-partisan conclusion:

Economic growth faded as President Obama raised taxes and smothered the economy with unprecedented regulatory burdens.

They conveniently ignore President Bush (43) regulatory and spending smothering. It helped to build the deep state and bureaucracy just as the Obama years did, and from which we are struggling to emerge.

 

 

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