KUD­LOW

Starkville Daily News - - FO­RUM -

Speaker Paul Ryan is tak­ing off his Con­gres­sional Bud­get Of­fice green eye­shades. Rather than in­sist on "rev­enue-neu­tral" tax pol­icy, he seems to be re­turn­ing to his Jack Kemp sup­ply­side roots, ar­gu­ing that growth is the most im­por­tant is­sue.

The CBO is a big part of the swamp that Pres­i­dent Trump would drain. With its pa­thet­i­cally small growth es­ti­mates, it blocks pro-growth tax-cut poli­cies. Nei­ther the CBO nor the Joint Com­mit­tee on Tax­a­tion has any se­ri­ous mod­els show­ing how lower tax rates re­duce tax avoid­ance and tax shel­ter­ing — a point made em­phat­i­cally by sup­ply-side men­tor Arthur Laf­fer.

But Mnuchin's Trea­sury will come up with more re­al­is­tic mod­els for the Trump tax cut. And there's no rea­son why these es­ti­mates couldn't be used.

What's more, there's no rea­son why the 10-year score­card win­dow can't be ex­tended to 20 years. The green-eye­shade process must not be per­mit­ted to block an Amer­i­can pros­per­ity re­nais­sance.

The GOP needs a bud­get res­o­lu­tion, which will con­tain cru­cial 51-vote rec­on­cil­i­a­tion in­struc­tions on spend­ing and taxes. But where there's strong po­lit­i­cal will, leg­isla­tive ways and means will be found. Ten weeks is plenty of time.

So I agree with my friends at Bret­ton Woods Re­search: Bud­get and tax-cut draft leg­is­la­tion is com­ing sooner than folks think. My fi­nan­cial take? Buy stocks, go long the dol­lar and short gold.

In other words, op­ti­mism.

To find out more about Lawrence Kud­low and read fea­tures by other Creators Syn­di­cate writ­ers and car­toon­ists, visit the Creators Syn­di­cate Web page at www.creators.com.

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