The basic premise behind the various conservative tax plans advancing at the General Assembly is the same old trickledown economic argument we’ve heard for decades: If we tax rich people and profitable corportations less, they’ll hire more workers and everything will be be hunky dory.
The only problem with this theory, of course, is that it’s a fantasy. For the latest confirmation of this hard truth, check out this report from the Economic Policy Institute which shows that CEO pay continues to skyrocket.
The bottom line: You simply can’t give rich people and large corporations enough. No matter how much government slashes their taxes, inequality only gets worse.