Kass: The Death Of Supply-Side Economics
Supply side economics always promised that if more money at the top would filter down to the rest of the economy. This was the premise used to push many tax cuts through.
President Trump got a $1.5 trillion tax cut passed that, it is now revealed, did little outside the initial bump. In a recent survey 84% of those who responded did not change their capital expenditures after the tax cut. In other words, it was free money to pocket.
What did happen was the national debt gets $1.5 trillion added to it with a deficit that explodes.
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