Wrong. Deficits have two sources: 1) taxes that are "too low", or 2) spending that is "too high". The deficits we see now are caused by excessive spending. Your statement is simply incorrect because federal tax receipts after the tax cut are greater than they were before it. Your argument is specious. It is too much spending that's the problem. Personally, I think I know how to spend my money better than Congress does, so I have no argument with the tax cuts. What I do argue against is gov't spending, especially on transfer payments.
[The Trump tax cuts] caused a massive non-crisis-related increase in the budget deficit...
Wrong. Deficits have two sources: 1) taxes that are “too low”, or 2) spending that is “too high”. The deficits we see now are caused by excessive spending.”
But the spending is caused by wealthy elites being freed from higher taxes have little hesitancy to reduce spending since they no longer see the threat of higher taxes. In other words they are complete fools. They need to pay higher taxes! If you believe this country is being run well than give tax cuts to the people who run it. If not bleed them as they are bleeding us!