The Con of Republican Tax Cuts
Paul Krugman has a column in the NYT (8/24/2018) about the con of Republican tax cuts.
The con goes something like this: The Republicans cut taxes and then scream about deficits. Their solution is to cut Society Security, Medicare and other portions of the social safety net to make up for the deficits. But these payments the government makes to individuals should not be called entitlements (which the Republicans have made in to a dirty word) they should be called investments.
If you or I receive a Social Security check we don’t hide it in our mattress, we spend it in the economy. The corporations certainly spent the their recent tax cuts; they spent on stock buy backs which put a lot of money into Wall Street but almost nothing into Main Street.