Cutting taxes is excellent. It should be the norm. It should happen every year. We have far too many taxes. However one should cut government along with such tax cuts.
To some degree supply-sidism works. Taxes that are too high reduce growth and then also restrict revenue coming into government. Cutting taxes may actually increase tax revenue. However, aren’t we supposed to be draining the swamp? Shouldn’t we be reducing the “size and scope” of government along with the size and scope of taxation? Shouldn’t we at least make a dent in the crony machine?
We’ve already enjoyed a nearly unprecedented run of growth since the end of the Great Recession and another downturn is surely due eventually. Even if 4.8 percent growth were possible for the next 10 years, that would merely balance the budget and would do nothing to address the $21 trillion national debt.