Wheeee! cut taxes another 50 % Borrow the money from China. Wait, china not buying any more? Borrow it from domestic banks. Soak up that credit. Borrow more money to “create” jobs. Soak up more credit.
Crank economics.
Deficits don’t matter!
We will grow out of the deficit.
What about paying off the debt incurred? don’t mention that! The Fed will save us!
It sounds like you misunderstand the fundamental idea: allowing people to keep the money they earn gives them the incentive to risk their wealth via investment.
The lower my taxes, the higher my incentive to earn, the harder I work and invest.
Andrew Mellon proved that tax cuts more than pay for themselves. And only economic models that are static (i.e., assume that human behavior does not change when confronted with giant tax rates) doesn’t recognize that.
The other thing is that tax cuts are only part of fiscal responsibility. I gave the analogy of a millionaire making huge big ticket purchases: was it his million dollars that put him into debt, or was it his spending?
Democrats are destroying us on both ends: they have racked up ten times (literally) the deficits of Republicans, and at the same time they want to throttle economic growth with high taxation.