Many financial analysts and others, me included, believe that federal tax cuts should have been enacted only for lower wage recipients. . . .
“Many people don’t like paying taxes. Yet, treating taxes and spending as separate policy discussions is an economic fantasy,” said a spokesperson for the think tank Concord Coalition.
“Lower taxes theoretically encourage economic growth by providing incentives for work, saving and investment.
“However, if taxes fall too far below government spending for too long, the resulting deficits will eventually cancel out any positive economic gains.”