The Ocean State: A Sinking Tide Lowers all Boats?

Supply-side economists are famously associated with the saying that “a rising tide lifts all boats.” At its simplest, the thinking goes as follows: tax cuts keep more money in the economy, allowing for more investment in businesses, leading to more job creation. But Rhode Island seems to have adopted almost the reverse philosophy – literally, if one writer in the Providence Journal has her way. Here is her letter calling for a sales tax on yachts. Ed Achorn also mentions this issue in his most recent column.

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