Keys to prosperity
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-Keys to Prosperity-. Stephen Moore. The Greatest Story Never Told S&P 500: Nominal vs. Real Price Appreciation January 1960 – October 2010. 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010.

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Keys to prosperity

-Keys to Prosperity-

Stephen Moore


Keys to prosperity

The Greatest Story Never Told

S&P 500: Nominal vs. Real Price Appreciation

January 1960 – October 2010

1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010

Source: Laffer Associates, Monthly Report based on Data from Standard and poor’s.

Past performance is no guarantee of future results.


Keys to prosperity

Share the Wealth?

Top Marginal Income Tax Rates and Income Tax Share for the Top 1% of Earners

1970-2006

Top Marginal Income Tax Rate

Top 1 Percent Income Tax Share

Tax Rate

Tax Share

1970 1973 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006

Past performance is no guarantee of future results.

Source: Internal Revenue Service, Statistics on Income, “Number of Returns, Shares of AGI and Total Income Tax, AGI Floor on Percentiles in Current and Constant Dollars, and Average Tax Rates,” Table 1. Available at: http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html


Keys to prosperity

“In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.”

- John F. Kennedy


Keys to prosperity

Bottom 95 Percent Pays Less than Top 1 Percent

Past performance is no guarantee of future results.

Source: Internal Revenue Service, Statistics on Income, “Number of Returns, Shares of AGI and Total Income Tax, AGI Floor on Percentiles in Current and Constant Dollars, and Average Tax Rates,” Table 1. Available at: http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html


Keys to prosperity

Rich Pay More Than Their Fair Share

2007 Income and Income Tax Shares

Past performance is no guarantee of future results.

Source: Internal Revenue Service, Statistics on Income, “Number of Returns, Shares of AGI and Total Income Tax, AGI Floor on Percentiles in Current and Constant Dollars, and Average Tax Rates,” Table 1. Available at: http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html


Keys to prosperity

The Laffer Curve

Tax Rate

Tax Revenue


Keys to prosperity

The Laffer Curve

Real Federal Revenues and the Top Marginal Income Tax Rate

1960 1965 1970 1975 1980 1985 1990 1995 2000 2005

Source: Office of Management and Budget, Historical Table 1.1, Available at http://www.whitehouse.gov/omb/budget/Historicals

Past performance is no guarantee of future results.


Keys to prosperity

Inflation Rate, 1950-2010

Source: Bureau of Labor Statistics, Consumer Price Index, Available at: http://www.bls.gov/data/#prices

Past performance is no guarantee of future results.


Keys to prosperity

Show Me The Money?

Year on Year Monetary Base Growth, bi-weekly, percent, Through August 2009

Source:Federal Reserve Bank of St. Louis, Monetary base Growth, Available at: http://research.stlouisfed.org/fred2/series/BASE

Past performance is no guarantee of future results.


Keys to prosperity

10 Year Treasury Note Yield

October 1955 to February 2009

15.7 Peak

1962 1966 1970 1974 1978 1982 1986 1990 1994 1998 2002 2006 2010

Source:U.S. Treasury Department, Treasury Yield Curve Rates, Available at: http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield

Past performance is no guarantee of future results.


Keys to prosperity

Education and Medical Prices Skyrocket While Import Prices Drop

CPI, Percent Change, 2000 to 2009

Bureau of Labor Statistics, Consumer Price Index, Available at: http://www.bls.gov/data/#prices

Past performance is no guarantee of future results.


Keys to prosperity

Worker Well-Being

Based on data from the Census Bureau and the Department of Labor.

Past performance is no guarantee of future results.


Keys to prosperity

Number of Years It Took for Major Technologies to Reach 50% of American Homes

Past performance is no guarantee of future results.


Keys to prosperity

Guns and Butter: Discretionary Spending Explodes

1992-2010

1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Past performance is no guarantee of future results.

Source: Congressional Budget Office, Historical Budget Data, Available at: http://www.cbo.gov/


The stimulus and jobs

The Stimulus and Jobs

Past performance is no guarantee of future results.


Keys to prosperity

Hog Wild Spending

Federal Outlays, 2001-2008

Past performance is no guarantee of future results.

Source: Free Enterprise Fund


Keys to prosperity

The World Really is Flat

Flat Tax Nations and Their Rates

Source: Center for Freedom and Prosperity


Keys to prosperity

Free Countries are Wealthier and Healthier

Past performance is no guarantee of future results.


Keys to prosperity

High Corporate Taxes Make the U.S. Uncompetitive

U.S. Corporate Tax Rate v. Average for Developed Countries

Past performance is no guarantee of future results.


Keys to prosperity

Real Federal Funds Rate

January 1990 – September 2009

Past performance is no guarantee of future results.


Keys to prosperity

Gold Shows Dollar Weakness and Inflation Risk

January 1971 – November 2010

Carter

316%

Clinton

-19%

Bush

236%

Obama

45%

Reagan

-28%

Bush

4%

Nixon/Ford

276%

1971 1975 1980 1985 1990 1995 2000 2005 2010

Past performance is no guarantee of future results.


Gop bull market dow jones industrial average november 1992 november 1996

GOP Bull MarketDow Jones Industrial Average, November 1992-November 1996

Nov-92 May-93 Nov-93 May-94 Nov-94 May-95 Nov-95 May-96 Nov-96

Past performance is no guarantee of future results.


Keys to prosperity

Dollar at Record Lows

Dollar Index, August 2000 – November 2010

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Source: Federal Reserve Bank, Nominal Major Currencies Dollar Index

Past performance is no guarantee of future results.


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