by Rod Williams, March 29, 2025- I generally favor tax cuts. For one, I want smaller government and cutting taxes can be a means of "starving the beast." Also, sometimes tax cuts actually generate more revenue, not less. In order for me to support a tax cut, unless it "pays for itself" by generating more revenue, then I support a tax cut if the tax cut has a corresponding cut in government expenditure. I do not support tax cuts that simply lead to more government borrowing.
This video examines the 2017 tax cut and finds that it did not live up to its promise. It missed the mark by a mile. For instance, the tax cut was promised to result in greater investment and to pay for itself by generating additional revenue. That did not happen.
A promise of the tax cuts was that it would give average households an income boost of between $4,000 and $9,000. In reality the average household got a boost of only $750 per working person. Other provisions failed to live up to the promise. In reality, the 2017 tax cuts mostly benefited the top 1% of taxpayers.
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