RandomGuy
09-09-2019, 06:57 PM
The nonpartisan Congressional Research Service has just published a deep dive into the economic impact of the cuts in their first year, and emerges from the water with a different picture. The CRS finds that the cuts have had virtually no effect on wages, haven’t contributed to a surge in investment, and haven’t come close to paying for themselves. Nor have they delivered a cut to the average taxpayer.
The negligible (at best) economic impact of the cuts shouldn’t surprise anyone, the CRS says. “Much of the tax cut was directed at businesses and higher-income individuals who are less likely to spend,” its analysts write. “Fiscal stimulus is limited in an economy that is at or near full employment.”
https://www.latimes.com/business/hiltzik/la-fi-hiltzik-tax-cut-effects-20190529-story.html
Study itself.
https://www.everycrsreport.com/files/20190522_R45736_8a1214e903ee2b719e00731791d60f26d7 5d35f4.pdf
The negligible (at best) economic impact of the cuts shouldn’t surprise anyone, the CRS says. “Much of the tax cut was directed at businesses and higher-income individuals who are less likely to spend,” its analysts write. “Fiscal stimulus is limited in an economy that is at or near full employment.”
https://www.latimes.com/business/hiltzik/la-fi-hiltzik-tax-cut-effects-20190529-story.html
Study itself.
https://www.everycrsreport.com/files/20190522_R45736_8a1214e903ee2b719e00731791d60f26d7 5d35f4.pdf