Before any act of Congress becomes law, an agency such as the Congressional Budget Office ought to provide an independent analysis of its cost and proposed benefits. Not what comes from the political proponents alone.
And when it comes to tax cuts, that is the reduction of tax rates, an idea of the true reduction in tax revenues, if any.
Pro-tax politicians view all reduction in tax rates as a
reduction in tax revenues, which is false, based on past experience. Estimates of future tax revenues due to tax rate cuts should be estimated as best they can, but including a factor that is now entirely omitted by pro-tax politicians.
(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
No comments:
Post a Comment