The Backward Art of Tax Cutting
AbstractThis policy note examines the case for large tax cuts, focusing on the issues surrounding the purpose and overall size of the needed cut. Although Congress has passed a significant package of tax relief, many have worried that the budget surplus on which it was based will never appear. Thus, some have advocated "triggers" to reduce the size of the tax cuts should tax revenues begin to decline. This note argues that such a proposal represents "backward thinking.
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Bibliographic InfoPaper provided by Levy Economics Institute in its series Economics Policy Note Archive with number 01-5.
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-08-30 (All new papers)
- NEP-PBE-2001-08-30 (Public Economics)
- NEP-PKE-2001-08-30 (Post Keynesian Economics)
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- Wynne Godley, . "Fiscal Policy To The Rescue," Economics Policy Note Archive 01-1, Levy Economics Institute.
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- Wynne Godley, . "Kick-Start Strategy Fails to Fire Sputtering U.S. Economic Motor," Economics Policy Note Archive 02-1, Levy Economics Institute.
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