Getting the economics wrong (Letter)

Lawrence Kudlow, in your May 3 paper, repeats the myth that lower taxes equal economic growth.

Yes, U.S. GDP has fallen to less than 1 percent in the first quarter. But history shows it's not because of taxes. During the Clinton years, capital gains and marginal income tax rates were higher, and we had boom years with 4 percent GDP.

In 2003, George W. Bush lowered capital gains and income taxes greatly, yet by 2006 we had a severe recession. This and other historic data show that the business cycle and economic growth are not governed by tax policy. Obama has not raised taxes to pre-W. levels.

Kudlow also misinforms that combined state (which state?) and federal business taxes are 40 percent.

The following pay NO taxes on $25 billion income: CBS, General Electric, Interpublic Group, JetBlue Airways, Mattel, Owens Corning, PG&E, Pepco Holdings,, Prudential Financial, Qualcomm, Ryder System, Time Warner, Weyerhaeuser and Xerox. Major oil companies get huge depletion depreciation allowances, too.

As to Obamacare, it has not cost jobs, but saved Americans billions already with lowered health care costs.

Mike Lipskin