One Year After the Passage of Tax Cuts…

And we’re into bear market territory.

“In this current crisis, government isn’t the solution to our problems; it is the problem.” That wasn’t a claim of a universal truth; it was explicitly situational. And that situation was one almost entirely unlike our own.

And that Laffer Curve? As I always says, it’s a curve. An upside-down parabola, more specifically. And since we’re to the left of the maximum, the theory itself tells us that tax cuts expand deficits and crowd out investment. Not my claim. Theirs!

So yeah, here we are at the end of the longest bull market in our history, with things unraveling just as their own theories would predict.

Guys. They are YOUR THEORIES. If youre going to advance them, could you at least do what they tell you to do? Please?

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