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President Trump is following the path of President Regan; tax cuts leads to higher economic growth and therefore higher tax revenues.
“Contrary to the claims of voodoo economics, the government’s budget numbers show that tax receipts expanded from $517 billion in 1980 to $909 billion in 1988 — close to a 75 percent change (25 percent after inflation),”
The reason this is true is government never turns a profit. If it has money left over it will waste it. If this same tax money was to go back to the private sector, as a tax cut, some people will save and some people will invest in the stock market and/or new business. This adds a rate of return to the original investment; growth. How many people who write in the forums have made a profit in their retirement account? Government never turns a profit. Even a 1% return on savings accounts is 1% growth. Lower tax rates, by adding potential investment money can generate wealth. This can produce more tax revenue. The Regan experiment demonstrated this.
Most elected officials are lawyers. They are not economists. They are amateurs in terms of the schooling behind the science of money growth. It would be like hiring Bill Gates to represent you in court. He may be brilliant in computers and business, but he lacks lawyer skills. he did not take the time to learn the needed skills to be effective.
Lawyers do not have economic money skills, as good as business people who ons do this. Defense lawyers are better at bull crap, such as convincing a jury of their peers the witness is corrupt, not their client. Propaganda and lawyering go hand in hand. If I needed propaganda a lawyer would be better choice than a businessman. But economic growth and those who are business majors go hand in hand.