…it’s all mind boggling beyond belief, it “passeth all understanding”…https://www.commondreams.org/news/2017/04/27/getting-old-yet-gop-votes-again-protect-trump-and-obscure-truth
…and why I guess Bush the First called it “Voodoo Economics” way back before the Republicans all fell into goose step line, their kneepad Tory loyalties totally focused on the very wealthy funders who place them in position to profiteer shamelessly from their noble and patriotic “public service”.
There is no correlation between cutting taxes and economic growth. None. For example, the Congressional Research Service did a comprehensive analysis of the kind of cuts Trump and friends are proposing, going back to 1945. Here’s what they found:
Analysis of such data suggests the reduction in the top tax rates have had little association with saving, investment, or productivity growth. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.
So the tax cuts are highly unlikely to increase the tax receipts by expanding the economy, which means they will lead to huge increases in deficits and debt, while shifting yet more wealth to the wealthy.
We’ve seen this at the federal level with such consistency that it’s hard to believe Trump and the Republicans are using the same pretext to justify what is, in essence, a massive giveaway to corporations and the ultra rich. A more honest justification would basically go something like this: “Our real constituency—corporations and the top few percent of the wealthiest American—hates government and wants to keep getting an ever larger share of America’s prosperity at your expense, so we’re going to starve government of funds and give the proceeds to the rich.” But that doesn’t sell, so we’re stuck with supply-side, trickle-down insanity.”