If tax cuts are to raise revenues, broader culture of economic freedom is required

Among the favorite maxims of fiscal conservatives is the idea that tax cuts, not hikes, increase revenues. Inarguably, slashing personal income tax rates buoyed the size of the federal government’s coffers following the Mellon income tax cuts of the 1920s, the 1964 Revenue Act signed by President Kennedy and President Reagan’s reform measures in 1981 and 1986. The rationale behind this somewhat counterintuitive phenomenon is that lower tax rates leave individuals and sole-proprietor businesses with…

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Trump’s Budget Creates A Government Culture That Threatens Rights

Budget drafts are hardly written in indelible ink. By the time they pass from the executive through the legislature and return to the president’s desk, provisions have been added and funding has been stripped in accordance with various political agendas to such a degree that the final product bears little resemblance to the draft. Rather, budget drafts are far more useful if viewed as ideological tracts. Major spending programs and the rationales given for their…

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