Letter: Supply-side's about lower taxes

The writer of "Supply-side theory's a proven failure" [Letters, March 10] fails to understand supply-side economics. To add regulations that inhibit business such as the Dodd-Frank Wall Street Reform and Consumer Protection Act will lead major financial institutions to limit hiring and expansion. High taxation in New York will lead companies to explore moving to low-tax states.

Supply-side economics pushes for lower, simpler taxes and regulations, which encourages companies to expand, reduce prices and increase profits. It is working in some of the states that have lowered taxes and attracted businesses.

In today's world, where companies can locate in many different areas, why should they expand in New York? Here, they can be assured of high income, sales and real estate taxes, and suffer the indignity of an unfriendly political class.

Who gets blamed when people suffering from superstorm Sandy can't get the check from their insurance company? Of course, the insurance company and the evil banks. But nobody states out loud that they are trapped by the stupid regulations of Fannie Mae, which require them to hold up the funds.

Paul Sheridan, Hicksville