A Quote by Sanjaya Baru
The liberal fiscal spending of the 2004-08 period was made possible both by rising government revenues and national income growth and by relative comfort on the external side. After 2009,these pillars of growth began to wobble. By 2012, they were shaking.
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My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth.
From 2008 to 2016 all the growth in the American economy, all the growth in national income, was earned just by the wealthiest 5% of the population. So they got all the growth. 95% of the population didn't grow. If you can get a flat tax or other lower tax, as Trump is suggesting, then this richest 5% will be able to keep even more money. That means that the 95% will be even poorer than they were before, relative to the very top.
America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most.
I'm not advocating spending less on the elderly, but I am strongly advocating spending more on kids while also putting the country on a sound, long-term fiscal trajectory. To do that, we have to reduce the rate of growth of entitlement-related expenditures and add more revenues.
President Reagan, Jack Kemp and other advocates of supply-side economics understood that pro-growth tax, spending and economic policies were essential to America's long-term economic and fiscal health.
The zero-income-tax-rate states have far faster growth in tax revenues than did the states with highest income tax rate over this period.
During the 1960s, rising real wages for low-income and high-income workers, due in part to rapid economic growth and the spread of unionization, worked in tandem with expanding government support systems to improve Americans' well-being.
Fiscal decentralisation does not lead to higher economic growth because economic growth is much more driven by factors other than taxes and spending, e.g. increases in technological progress and improved human capital.
Technology investment drove growth in the 1990s, both directly and by fueling a rising stock market that led to increased consumer spending.
Margins on other sales and revenues grew as a result of the growth in extended service plan revenues, which have no associated cost of sales, and the growth in our service margin, reflecting improved overhead expense absorption.
China's continued growth and rising household income are creating opportunities for lower-income economies in low-cost manufacturing.
If Republicans are correct that lower rates spur economic growth, then lower rates on all income - made possible in part by raising capital-gains rates - should bolster economic growth across the economy.
The growth of the soul may be compared to the growth of a plant. In both cases, no new properties are imparted by the operation of external causes, but only the inward tendencies are called into action and clothed with strength.
Growth is a substitute for equality of income. So long as there is growth there is hope, and that makes large income differentials tolerable.
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
At the federal level, the fiscal stimulus of 2008 and 2009 supported economic output, but the effects of that stimulus faded; by 2011, federal fiscal policy actions became a drag on output growth when the recovery was still weak.
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