The basic idea is that cutting tax gives people more of their own money to spend, which then bleeds back into the economy and makes us all richer Everyone being richer causes us to pay more tax, which means that tax cuts pay for themselves! Is this true?
It's also worth noting that the positive effect from tax cuts has demonstrable diminishing returns as wealth increases This means that even if tax cuts are good they are less good for people with more moneypic.twitter.com/fjQN2edNmL
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So even if we do want to cut taxes, the best people to do it for are the middle/low income earners TAX CUTS FOR THE RICH MAKE LITTLE ECONOMIC SENSE
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This has been my relatively short thread on tax cuts Remember: it's absurdly complicated, don't believe anyone who tells you they can predict anything with any certainty because they're wrong
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Some references: https://theconversation.com/there-isnt-solid-research-or-theory-to-support-cutting-corporate-taxes-to-boost-wages-92031 … https://theconversation.com/infographic-budget-2019-at-a-glance-114289 …https://theconversation.com/do-tax-cuts-stimulate-the-economy-more-than-spending-80950 …
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