How many times have you heard President Joe Biden or Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) berate the Trump tax cuts as “a giveaway to the rich”?
Biden and congressional Democrats now want to let expire major planks of the Tax Cuts and Jobs Act of 2017, former President Donald Trump’s signature domestic achievement, particularly the incentives for American businesses to invest more here at home.
We now have incontrovertible evidence that after five years since they took effect, the Trump tax rate cuts of 2017 raised revenues over this time period. For full disclosure, I should note that I worked with fellow economists Larry Kudlow, Arthur Laffer, and Kevin Hassett together on that plan, which went into effect on Jan. 1, 2018….