You can’t prove or disprove the thesis…
…because you can never know for sure what would have happened had the alternate scenario played out.
That said, when you tax something, you get less of it — that’s why we tax things like cigarettes. Likewise, when you tax productivity via income taxes, you get less productivity. This is not only common sense, but also proven true over time on the macro and micro level. Cutting taxes encourages risk-taking and incentivizes people to choose labor over leisure. Both lead to greater economic growth than the alternative.
Regardless, tax revenue is at record highs right now. We have deficits because Congress spends everything it takes in and then some. It’s a spending problem, not a revenue problem.
Side question: If the Trump tax cuts were so bad, then why didn’t the Dems repeal them over the last two years?
[Post edited by Los Angeles Hoo at 02/08/2023 7:22PM]
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In response to this post by southdenverhoo)
Posted: 02/08/2023 at 6:56PM