So what if we look at the evidence, countries that have actually cut taxes, and see what's happened? Generally, the results aren't sudden economic growthpic.twitter.com/kb5z2WYGTh
Epidemiologist. Writer (Guardian, Observer etc). "Well known research trouble-maker". PhDing at @UoW Host of @senscipod Email gidmk.healthnerd@gmail.com he/him
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So what if we look at the evidence, countries that have actually cut taxes, and see what's happened? Generally, the results aren't sudden economic growthpic.twitter.com/kb5z2WYGTh
Again THIS IS COMPLEX Sometimes, the economy grows after tax cuts Sometimes it doesn't
Which begs the question: why cut taxes? Because while the impact on the broader economy is uncertain, we do know one thing that tax cuts will do: reduce government spending
Yes, cuts might ~eventually~ bring in more cash, maybe, but in the short term they will absolutely, definitely, 100% reduce the amount of money the government has to spendpic.twitter.com/JUgpaurbYB
This means that the government either has to borrow money - not ideal - or cut programs Programs like disability support, pensions, education
And something that's ALWAYS missed by people who don't want to pay their taxes is that these programs also have a positive impact on the economypic.twitter.com/Lt3lI4hHfN
It turns out if you educate people, give them appropriate support in their lives and good healthcare, they often do better economically THIS IS NOT A SURPRISE
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
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
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
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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