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Mark Skousen discusses how supply-side economics have helped the American economy surge to new economic heights.

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SUPPLY-SIDE TAX CUT FEVER: WHY THE RICH ARE LEAVING NEW YORK AND CALIFORNIA

Mark Skousen discusses how supply-side economics have helped the American economy surge to new economic heights.

Supply-side economics works!

The 2018 massive corporate tax cut of 21% has generated lots of new jobs, higher wages and new businesses.

It has been one reason the stock market is close to an all-time high, continuing the longest bull market in history. The tax cut has also encouraged U.S.-based international companies like Apple (NASDAQ: AAPL) and Microsoft (NYSE:MSFT) to bring their funds back to the United States.

But I‚??m no fan of the $10,000 limitation on deducting state income taxes.¬†State taxes always should be fully deductible on federal returns.

There‚??s no doubt that the severe limit on state and local income taxes has caused many wealthy residents of New York, California, Illinois and other extremely high-tax states to move to states with lower taxes, such as Tennessee, Florida, Texas, Washington and Utah. Indeed, Nevada, Texas, Washington and Florida have no state income tax.

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Written By

Mark Skousen is a college professor, prolific author and world-renowned speaker. He‚??s made his unique sense of market and investment trends known and respected in the financial world. With a Ph.D. in economics and a focus on the principles of free-market capitalism and ‚??Austrian‚?Ě economics, Mark Skousen has often gone contrary to the crowd in his investment choices and economic predictions ‚?? and has often been proved right.

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