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Technology Stocks : George Gilder - Forbes ASAP
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To: JF Quinnelly who wrote (134)10/2/1997 1:22:00 AM
From: George Gilder   of 5853
 
I think Larry Lindsey vastly understated the effects of the
tax cuts. They unleashed a 100fold rise in venture capital that
funded most of the companies we are contemplating in this
forum. The kind of intricate analysis that Lindsey did for
the United States seems otiose in the face of global data
collected by the World Bank, Price Waterhouse and other
institutions showing that low tax countries grow six times
faster than high tax countries and thus gain three times as
much incremental revenue. For example, the country that led
the world in increased government spending during the last
thirty years was Hong Kong. Only a besotted Keynesian would
suppose that its world's lowest top tax rate, around 16%, was
merely coincidental.
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