http://nymag.com/intelligencer/2019/05/study-trump-tax-cuts-failed-growth-investment.html?fbclid=IwAR1wUfEkn-oHaIQ_SUuUk9LN1Is9O9ROfd2Q91mT6H3LgccSjiDTuHykXVQ
from the article:
Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money
The Intelligencer
MAY 29, 2019
from the article:
The biggest effect of the Trump tax cuts is obvious: People who own businesses and other sources of concentrated wealth will have a lot more money, and the federal budget will have less. But the advocates of the tax cuts insisted it wasn’t about letting the makers keep their hard-earned money rather than handing it over to the takers. It was about incentivizing business to repatriate funds and ramp up its investments, thereby increasing growth and wages.
The Congressional Research Service, a kind of in-house think tank for Congress, has a new paper analyzing the effects of the Trump tax cuts. It finds that none of those secondary effects have materialized. Growth has not increased above the pre-tax-cut trend. Neither have wages. After a brief and much smaller than expected bump, repatriated corporate cash from abroad has leveled off.
