Cutting taxes does not produce growth at all. Neither does slashing interest rates. At Barclays our mantra was that the lower interest rates were the more profits and money that Barclays Bank made.
Raise taxes on those with very high incomes and capital gains, increase savings, raise the real minimum wage and raise interest rates and you will experience sharp growth, both of employment and of incomes. Seems illogical until you realize that consumers think the opposite approach is bad household and financial management. Tax the rich, give high interest to the savers, reduce bank profits, raise real and minimum wages. These are things an advanced economy wants, while saying the opposite.
Guess everyone but me has it wrong, yet just talk to a few old timers....
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