No it will not…and never has. After ALL Republican historical tax cuts for the wealthy aimed to “stimulate the economy,” low-end wages remained stagnant, the number of folks living in poverty remained the same or increased, and income inequality consistently increased. In addition, the central claim to fame for supply-siders is that tax cuts stimulate economic growth…but at the macro level this has been extremely hit-and-miss (see links below). But, more importantly, there has not been any substantive or sustained “trickle-down” to the poor as a consequence of tax cuts for the rich, ever.
All other statistics are largely irrelevant in this context, because the sole measure of whether trickle down and other supply-side fantasies (i.e. the Laffer curve is laughable) actually work is whether poor people get any less poor.
Well, they don’t. So it’s just B.S. to talk about economic indicators at a macro level that benefit the wealthy, when what happens to the poor (in terms of real wages, numbers of folks in poverty, etc.) is so clearly neutral or negative. Here are some decent articles that cover this topic (you will need to follow links and refs in them to burrow down to the actual data):
How Much Do Tax Cuts Really Matter?
(Summary of Census Bureau reports on income and poverty across multiple U.S. administrations.)
Tax Cuts Won’t Make America Great Again
Trickle-Down Tax Cuts Don’t Create Jobs
- Center for American Progress
How past income tax rate cuts on the wealthy affected the economy
Tax Cuts: Myths and Realities
Now of course if you do a Google search on this topic you will find endless articles from the Heritage Foundation, CATO Institute, American Enterprise Institute and other neoliberal think tanks that prop up supply-side fantasies with cherry-picked statistics. It’s really shameful…but this deluge of propaganda serves these neoliberal institutions well: they have forever been the champions of corporate plutocrats, after all.
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