Why do liberals always fall for the same proven wrong economic facts?
A vast majority of the time tax cuts result in more economic activity which results in more tax revenue. Trump’s tax cuts certainly did,
Rich people are not Scrooge McDuck. They invest their money and buy businesses, invest in startups…rich people hire people. You punish them with higher taxes and regulations they move their money (and sometimes their businesses). They have the means to dodge the tax code.
You tax a corporation and it doesn’t just shrug its shoulders and say “well, I guess we just have to live with lower margins”. They raise prices, and that means the tax is just passed down.
Of course you can’t cut to zero, but tax cuts coupled with regulatory reforms result in a stronger economy which means more taxable economic activity.
The total annual receipts of the U.S.
www.statista.com