“Remember that the stock market is being driven to a large extent by the one thing that I think the Trump administration did right: got the 35 percent marginal corporate tax rate and brought it down to 21 percent,” Greenspan said during a recent discussion at the American Enterprise Institute titled, “The Bubble Economy – Is This Time Different?”
“I think that what is happening here in the United States is we’re underestimating the impact of that,” Greenspan said.
“All you have to do is move the tax rate several percentage points, and a whole cascade of projects will fall on a ‘let’s-do-it’ type relationship, and I think that’s what’s happening at the moment,” said Greenspan, who served as Chairman of the Federal Reserve of the United States from 1987 to 2006.
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