Quote from bigdavediode:
So in times of plenty the solution is "tax cuts."
When times are hard the solution is "tax cuts."
How about we pay our bills, and Mr. Smith give up some of the $54 million in compensation he earned over the last five years and invest it in his own business?
Tax cuts is a meaningless term, it depends what taxes are cut and what behaviour is incentivized by that tax cut. How about Mr Smith is incentivized to make that investment by making sure that it will be worth his while to do so rather than making the investment risk adjusted equivalent to invetsing in treasuries due to tax disincentives.
Yes in times of plenty across the board tax cuts are great, why shouldn't people get to keep the fruits of their labor/creativity?
In hard times targeted tax cuts that PRODUCE GROWTH are what are needed far more than tax credits that encourage consumption or saving.