Donald Trump's new economic plan could easily generate a 4 percent — or higher —growth rate, defying assertions that expansion at half that rate is the best the nation can do, economic writer and policy analyst Stephen Moore tells Newsmax TV.
In an interview Thursday on "The Steve Malzberg Show," Moore, a senior economic adviser to the GOP nominee, said Trump's plan to cut taxes and rollback regulations are among "the major principles for getting an economy moving."
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"Who in the world made up this rule that the economy can't grow?" asked Moore, a Newsmax Finance Insider.
"[Economist and former Secretary of State] Larry Summers, Obama's economist, has been running around saying 2 percent is the best we can do. That's nonsense. We can grow 4, 5, 6 percent with the right growth."
"The heart of the plan is the business tax cut," he said. "We're going to say 'why don't we have a tax system that brings companies to the United States rather than repels them?' …
[President Ronald] Reagan did it in the '80s when we had a big boom and Trump is going to do this."
On a regulation rollback plan, Moore said it won't be that hard.
"One of [Ronald Reagan's] first acts in the first hour he was in the Oval Office in January of 1981 [is that] he signed a law, an executive order rescinding all oil and gas price controls," Moore said.
"It led to one of the biggest booms in energy we've had in this country. Trump can do those kinds of things."
"The problem is Hillary [Clinton] will do to the oil and gas industry what Obama has done with the coal industry," Moore added. "It's a dangerous thing and it will disrupt our energy supply and that's the biggest danger of all. What happens when the lights go out?"
Stephen Moore is a distinguished visiting fellow at The Heritage Foundation, economics contributor to FreedomWorks and author of "Who's the Fairest of Them All?" To find out more about Stephen Moore and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com. To read more Stephen Moore — Click Here Now.
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