Basically, it’s a switch and bait. Rile against the budget deficit, the public debt, the rise in inequality (if that isn’t still denied, as it has been for a long time), pose as the working and middle class champion and then implement huuuuuge tax cuts which overwhelmingly go to the rich, do little for the economy, crater public finances which necessitates either big spending cuts in programs for working and middle classes or a huge deficit..
This is like turkeys voting for Christmas. Can we really expect the elite like Trump or Romney, who pay disproportionally less taxes than the average guy to change the tax system […]
Corporate profits are way up, and corporate taxes are way down. In 1952, corporate profits were 5.5 percent of the economy, and corporate taxes were 5.9 percent. Today, corporate profits are […]
We don’t think this is likely: Previous experience hasn’t shown it The Reagan revolution is overhyped, growth didn’t accelerate whilst inequality rose Today’s conditions are even less conducive, corporate tax […]
Bruce Bartlett, the guy who actually designed the Reagan tax cuts, cuts through the nonsense and neatly sums up why they aren’t likely to produce any economic boom. See: Why are […]