How We Think About the Deficit Is Mostly Wrong

The Dreaded New York Times has the Stephanie Kelton Op-Ed How We Think About the Deficit Is Mostly Wrong.

Are the proposed tax cuts a huge giveaway to the rich? Most definitely. Will they, as advertised, create a booming economy with benefits that trickle down to everyone else? I don’t think so. Mr. Trump’s plan will widen the country’s already dangerous wealth and income gaps, and because the gains go mostly to those at the very top, the tax cuts won’t do much to promote broad-based consumer spending or overall job growth.

That’s enough to reject the plan. But it would be unwise to oppose tax cuts, or any other federal legislation, simply because they add to the deficit.

I couldn’t count the number of times I have said that using a faulty argument in support of a good cause is a huge mistake. In this Op-Ed, Stephanie Kelton offers another explanation of why you shouldn’t do it.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.