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May 1981

Discussion of the Summers Paper, "Tax Policy and Corporate Investment"

by Norman B. Ture

I find myself mostly in agreement with Lawrence H. Summers’s conclusions about the relative magnitude of the effects of capital-favoring tax changes, despite the fact that I largely disagree with the way he arrives thereat. What this proves is that even when marching to different drummers, people can arrive at the same destination. It is heartening to discover that despite quite different perceptions of what supply-side economics is about, it is possible to come quite close together on tax policy prescriptions aimed at regeneration of economic progress.