Economists with the Economic Policy Institute recently released a concise but well-resourced guide that responds to some major questions that often arise when policymakers turn to tax cuts to solve our economic challenges.
Here’s the report’s bottom line answer to the question of whether tax cuts should be a priority for policymakers:
“Tax cuts provide no durable solution to any genuine economic problem for America’s working families, but do make some genuine problems even worse.”
Check out the full piece here.
And then turn to the latest analysis from Josh Bivens of the Economic Policy Institute showing that real-world data finds no wage boost from corporate tax rate cuts.
Federal policymakers should heed the evidence, as should North Carolina policymakers who have continued to reduce the state’s corporate income tax since 2013 so that it is now the lowest in the nation. Real-world data in NC: Median wages are still below where they were when the national economic recovery began.