Corporate tax cuts fail to deliver the promised job growth

Evidence

In the US, as elsewhere, cuts in investors’ taxes are marketed with the message that these measures will incentivize those who run our economy to invest and increase jobs. But historical evidence speaks clearly: these corporate giveaways benefit only the superrich. For example, thanks to the Trump tax cut of 2017, AT&T gained a tax windfall of $21 billion, yet eliminated 23,328 jobs in the two years following. — Clara E. Mattei, Escape from Capitalism, 149

Categorization

• XREF: connects to: Top US tax rate cuts correlate with income concentration, not economic growth — Mark Blyth, Austerity: The History of a Dangerous…, 654; Austerity’s core claim that cuts lead to growth is dangerous nonsense — Mark Blyth, Austerity: The History of a Dangerous…, 15

Broader Connections

• Austerity’s core claim that cuts lead to growth is dangerous nonsense #corroborates (0.85) — Mark Blyth, Austerity, 15