The Reaganite Tax Cut Myth—It Was Just Trumpian/GOP Fiscal Snake Oil, Part 3

As we indicated in Part 2, the Reagan business cuts were based on the principle of “no ticky, no washy”. That is, if you didn’t add to your productive capacity or process efficiency by purchasing new plant and equipment, there was no tax benefit. None of Reagan’s giant business cut, therefore, went back into the canyons of Wall Street as […]