Letter Re: The Economy, Trump and Tax Proposals
HJL: I just attended my insurance agent’s coop annual meeting where a “behavioral economist’ spoke. One of his points is that GDP growth is limited to 1.5% by the available labor, even allowing for the higher percentage that is U-6. He says the gap has narrowed but always present. I look at the change in the tax code to promote repatriation of funds held overseas and a potential repeat of the accelerated cost recovery rules on depreciation that powered the Reagan revitalization along with the convergence of robotic technology and wonder if any jobs would be produced by the wave …