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What money will replace Tax Breaks Trump wants to give?
- Anonymous4 years agoFavorite Answer
Trump wants more tax cuts for the rich!
Trickle Down Theory of Economics – doesn’t work
The simple-minded idea that cutting taxes on the "rich" suffices to raise the standard of living of all concerned does not have a great track record. Name any economist, outside of an insane asylum, who had ever said any such thing.
Supply side economics or Reaganomics is an economics theory built around the idea that by giving the rich enough money, tax breaks and deregulation, they will be freed from the constraints that allegedly prevent them from expanding their businesses and hiring more people. According to John Kenneth Galbraith, the theory dates back to the 1890s when it was called horse and sparrow theory -- i.e., if you feed horses enough oats, it will pass through their digestive systems and their droppings will provide enough leftover oats to feed the sparrows. Regrettably, it's a pretty inefficient way to feed sparrows.
Never ones to be discouraged by being repeatedly and conclusively proven wrong, the Republicans make supply-side economics their goal.
Overall, data from the past 50 years strongly refutes any arguments that cutting taxes for the richest Americans will improve the economic standing of the lower and middle classes or the nation as a whole. However, data shows that any attempt to stimulate economic growth by cutting taxes for the rich will do nothing -- it hasn't worked over the past 50 years, so why would it work in the future? To put it simply and bluntly, top-bracket tax cuts is an ineffective attempt at stimulus that has not cause any growth -- unless, of course, if you're talking about the size of the deficit.
- Anonymous4 years ago
- 4 years ago
- MattLv 74 years ago
Unicorn farts. Or, if you listen to the GOP, increased productivity will magically increase the revenues the Federal government takes in because they will take a smaller slice of a bigger pie. Since every time the GOP promises this, it fails, they are the same things as unicorn farts. And not as colorful.
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- Max HooplaLv 74 years ago
Increased National Debt.
- Curtis 1911Lv 74 years ago
No money will be needed to replace the Tax Breaks Trump wants to give because Trump also wants to cut the federal government by 33%.
- JeffLv 74 years ago
- RobtLv 74 years ago
Don't worry about it Simple.
U will NOT get any.