By Bob Peckman
Do we need to cut taxes to help the economy? The answer seems obvious. But our gut reactions can be quite wrong. We have conducted two very large experiments, and factual data are available to guide us.
The first experiment is the 1978 California Proposition 13. California decided to not increase any taxes, and consequently, overall taxes did not keep pace with inflation. This constitutional amendment was so popular that two-thirds of the voters supported it. The California education system, the major attraction that made California the technology capital of the world, is now ranked 48th. California is no longer the primary target for new technology and industry.
Peckman, of Roanoke, is a retired engineer/physicist from ITT.