I agree with you completely on increased government revenues not being the point of tax cuts.
What this administration has done with massive new deficit spending alongside shrinking revenue is the worst of both worlds.
The national debt at the end of next year will be a larger fraction of GDP than at any time since 1955.
Paying that down will be a massive tax hike in the near future. Think 18% FICA, 45% top income bracket.
""The national debt at the end of next year will be a larger fraction of GDP than at any time since 1955.""
That is incorrect. Back in the early 90s federal debt as a % of GDP hit about 66%. Now it is more like 60%. Since GDP is growing dfaster than the accumlation of debt, the debt to GDP level has bee nfalling since 2003, after rising in 2001-02
"Paying that down will be a massive tax hike in the near future. Think 18% FICA, 45% top income bracket."
Since when has the USA ever paid down debt?