The Growth Experiment: How the New Tax Policy Is Transforming the U.S. Economy

President Bush's key advisor on tax matters demonstrates the success of Reagan's great tax experiment, which permanently changed the nation's tax system, and proposes new tax cuts for the middle and lower classes.

"This book adds to the growing evaluation of Ronald Reagan's presidency, particularly in regard to its economic legacy. Lindsey, a former Harvard economics professor who is now associate director of domestic economic policy for the White House's Office of Policy Development, analyzes the 1981 tax cuts and, not surprisingly, argues that the economic impact of the cuts is positive and long-lasting. He sets forth an exhaustive examination of how the tax cuts legitimized supply-side expectations--lower tax rates, he says, provided the incentive for people to work longer hours in order to save, spend, or invest the increased earnings. This book will be useful for specialists and scholars."
- Scott Hill, Univ. of California, Davis