Quote:
Originally Posted by pauld315
Wrong, more people hired because of lower corporate rate, higher wages due to competition for help, more jobs because companies are repatriating their money from overseas all translate into more tax revenue for the government, not less.
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Wrong - experts are giving that a huge question mark - Tax cuts in 1981 and the early 2000s widened deficits. With the new cuts the Treasury will be burning through cash reserves faster than usual. A shortfall of $136 billion is expected due to the tax cuts this year alone. Conservative estimates are that the federal deficit will increase by $2 trillion in the first 10 years. Very few economists are saying the revenue loss would be fully offset with revenue growth. The people spouting this magical thinking are politicians.