Is there truly an economic benefit to lower taxes?
I can attest to the veracity of this chart above from Sen. Ted Cruz. President Reagan held office from 1981 through 1989. We started our business in 1987 in the aftermath of the I-30 condo scandal that wiped out several savings-and-loan companies. It was an improved economy that got us over that disastrous scandal.
We enjoyed a booming business under two presidents, “government is the problem” Reagan and “it’s the economy stupid” Clinton.
Taxes paid to governments by no means deserve to be labelled “investments”.
Investment defined: the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value
Taxes NEVER appreciate your value. It is the returns on investments that add value.
Gross Domestic Product (GDP) is a measure of economic activity that represents “the total dollar value of all goods and services produced over a specific time period.” [investopedia.com]
Trump haters virulently oppose tax cuts even when tax cuts work to their benefit. Blind hatred as defined in the Urban Dictionary is “to strongly dislike something without knowing the facts, or by using false information“. The Bible warns:
He also told them this parable: “Can the blind lead the blind? Will they not both fall into a pit? – Luke 6:39
Here’s a little wisdom if you can handle it: A rising tide floats all boats. This means that economic growth is good for Republicans, Democrats, Libertarians, anarchists, socialists, Christians, Jews, Muslims, atheists, and communists. (Anyone left out?)
Here’s a little more wisdom: Profitability of businesses forms capital to fund new businesses and to expand existing enterprises. We business owners are the folks who risk our net worth to provide goods and services and employment to add to your net worth.
No nation in all history has ever taxed itself into prosperity.
“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” – Sir Winston Churchill
As it is written in Holy Scripture, “you will know the truth, and the truth will set you free”.