Depends on who the government lowers taxes on
Posted on: January 24, 2021 at 11:33:34 CT
SparkyStalcup MU
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The last tax break was targeted at the rich and at corporations. The corporations bought back stock with the savings, hence not goosing the economy at all. The rich do not spend the tax savings at nearly the rate that the poor and middle class do, so,yes, they basically hide it under the mattress.
And tax cuts tend to be permanent where spending increases are temporary.
It is magic to believe that tax cuts on the rich help stimulate the economy. It has never worked that way.