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Some lawmakers think that they only can get credit for economic news if they are directly involved in it. This is a mistake. The economic growth that drives opportunity and prosperity does not come from subsidizing the right business. It comes through the bottom-up decisions made by entrepreneurs, small business owners, and large companies, all using their knowledge and resources to serve customers better. State lawmakers’ role is to protect property rights, establish justice, and offer quality public services. They also ought to keep the costs of doing that low.
Reducing the burdens of government helps people thrive. It allows them to make free decisions about how to do things best, without shouldering the costs imposed by unnecessarily expensive government. A series of good events then unfolds.
A worker decides to start his own business.
A manager decides to hire more people.
A big company decides to invest in its Michigan businesses rather than in Ohio.
These are all more likely when governments reduce tax rates.
