Tax cuts … and?

Source: National Review
by Kevin D Williamson

“Taxes can be a drag on growth, but so can deficits. Government debt hoovers up capital and puts upward pressure on interest rates. … As President Trump has rightly emphasized, regulation also presents a potentially significant drag on the economy; by some estimates, U.S. companies pay more in regulatory-compliance costs than they do on business taxes. It is not at all clear that tax rates are the major issue — or even a major issue — when it comes to economic growth and job-market dynamism in 2017 and the near future. So, tax cuts apparently trump cuts to mandatory spending. No surprise: Tax cuts are popular, and spending cuts are not. Real profile-in-courage stuff right there, Republicans.”