There will be another fight over the scale of any spending cuts required to limit the deficit that the income tax reductions produce.
If you cut support, then you damage consumption patterns and put a brake on the growth that the tax cuts are intended to promote.
Amazing that we are going around this loop again, where we count the multiplier of lower taxes (investment! spending!) and discount the cost of reduced demand from people who have to spend money to survive and the profits that spending generates.
And yet we have seen how this works before. It causes a lot of immediate misery for little long run benefit.
| 