Penelope
Diamond Member
- Jul 15, 2014
- 60,260
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Which party adds more to deficits?
Hint: it’s the Republicans
Taylor White
Feb 13, 2020·7 min read
Tax Cuts Do Not Pay For Themselves
Both the Bush and Trump administrations argued that “tax cuts pay for themselves” as each passed significant tax cuts soon after taking office. The data suggests that this logic is faulty, as tax rates in the U.S. aren’t high enough to produce significant behavioral changes when they are reduced, and typical reductions aren’t large enough to have immediate impacts. Instead of spurring economic growth and thus more revenues, tax cuts simply increase budget deficits.
Oh how they hate gov't and they sure add up the debt by giving themselves tax cuts.