History shows that bad economic ideas almost never die, especially when they serve the wealthy and powerful. There’s no better example of this truth than trickle-down tax cuts. As we write this, the Trump administration is teeing up a tax plan that slashes taxes for the wealthy and the corporate sector, does little for everyone else (repealing the Affordable Care Act actually raises taxes on some with low and moderate incomes), and stiffs the U.S. Treasury to the tune of $6.2 trillion, according to the Tax Policy Center’s estimates.
Three Reasons Trickle-Down Tax Cuts Don’t Work
Posted in Finance & Economics, Politics, Public Policy and tagged Budget, Crony Capitalism, Deficit, Economics, Economy, Finance, Inequality, Politics, Public Policy, Tax Policy, Tax Scams.