william the wie
Gold Member
- Nov 18, 2009
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Tax cuts can produce only so much GDP growth, sensible deregulation can only go so far in further GDP growth, merit based immigration and infrastructure can only produce so much growth. Also the impact of further growth will shrink.
Going from 2.5% to 4% means going from @ 29 years to double goods and services the average person can consume and/or save to 18 years. That will lead to some increase in early retirements. But increasing by another 1.5% to 5.5% doubles real income every 13 years. That in turn means more early retirements. This will be a virtuous cycle while it lasts but with a shrinking labor force built in much like what is happening in China and Japan illegal immigration will make a return.
Going from 2.5% to 4% means going from @ 29 years to double goods and services the average person can consume and/or save to 18 years. That will lead to some increase in early retirements. But increasing by another 1.5% to 5.5% doubles real income every 13 years. That in turn means more early retirements. This will be a virtuous cycle while it lasts but with a shrinking labor force built in much like what is happening in China and Japan illegal immigration will make a return.