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Supply-Siders Schooling the GOP

schoolFrom The Daily Beast,

The Committee’s core group—“a bunch of old Reagan guys,” as Kudlow put it, which grew to include Steve Forbes and supply-side patriarch Art Laffer—believe that since World War II, the American economy has grown by 3½ percent annually, but that over the last 15 years, growth has shrunk to 2 percent annually.

“This growth slump has damaged investment, employment, incomes, poverty, social mobility, family life, and above all, lack of growth has damaged the American dream of opportunity for all,” says a Committee memo that serves as something of a founding document.

“The great American idea that you can come from humble background and rise to the top has been undermined…As President Ronald Reagan taught us weakness at home leads to weakness abroad.’  Unfortunately, American international leadership and influence has suffered in recent years proving the President Reagan’s analysis was completely correct.”

The Committee has come up with key principles that would make Uncle Ronnie proud. Among them: “a flat tax; limited government spending; lite regulation; sound money; free trade; and the rule of Constitutional law.”

Photo Credit: Melos

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