Trump Needlessly Squandered Our Economic Relief Toolkit
Trump Needlessly Squandered Our Economic Relief Toolkit Rant #14 ( Opinion ) Originally March 19, 2020; posted March 20, 2020 Remember all those tax cuts enjoyed primarily by the rich and large corporations, which would supposedly create trickle-down growth, even though growth was almost exactly the same after Trump's tax bill as it had been before? You know, all those tax cuts that increased the federal deficit despite an already robust economy? Collecting money for tax revenue when we have a bustling economy--nah, not important. Increase the deficit and public debt. Many Americans stomached this, thinking that they would somehow benefit from the tax cuts when most did not or only did so slightly. Ironically, the average American will end up paying later for the money that the rich and big businesses didn't today. Lower taxes leads to lower tax revenue; assuming the budget doesn't change, this means the government needs to borrow money to pay for what ...