Tax cuts for the wealthy didn’t boost the economies of the U.S. and 17 other countries — but they did worsen income inequality.
Source: 50 years of tax cuts for the rich failed to trickle down, economics study says
“Per capita gross domestic product and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn’t, the study found.
But the analysis discovered one major change: The incomes of the rich grew much faster in countries where tax rates were lowered. Instead of trickling down to the middle class, tax cuts for the rich may not accomplish much more than help the rich keep more of their riches and exacerbate income inequality, the research indicates.”
