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| On the Logic of the Six Rounds of Tax Cuts in the United States after the World War II and Its Macroeconomic Regulation Choice——Also Discussing on the Inspiration to Supply-side Structural Reform and Macroeconomic Regulation Choice in China |
| Su Jingchun Wang Yan |
| Chinese Academy of Fiscal Sciences， Beijing 100142 |
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Abstract After the World War II， the US government implemented six rounds of large-scale tax cuts， the foundation behind which is the change of American economic thoughts， and the external performance is the choice of macroeconomic regulation in American economic practice. Based on the comparative analysis of the evolution of American economic thoughts and the change of tax policies， this paper expounds the contents and evaluation of three rounds of demand-oriented tax cuts and three rounds of supply-oriented tax cuts in the United States， and summarizes the internal logic of these six rounds of tax cuts. It is not hard to see that the US has always maintained the “most targeted” principal in its macroeconomic regulation decisions， which， on the one hand， has solved practical problems in the US macro-economy time after time， and on the other hand， has left enough room for the sustainable implementation of the US macroeconomic regulation. Furthermore， this paper proposes countermeasures and suggestions for supply-side structural reform and macroeconomic regulation choice in China.
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Received: 26 July 2019
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2019, Vol. 58 
