A Cash Windfall
The irony was not lost on many in the news media. As the president signed the Tax and Jobs Act of 2017, which amounted to providing one of the largest corporate tax cuts in recent history and a ballooning of the national debt, many were left wondering, what happened to the conservative economic principles that were used to admonish the previous administration? In a February 26th editorial, Barron’s viewed the passing of the Act as “standing history on its head.” Instead of reducing national debt as the economy recovers from a recession, this plan cuts taxes to encourage spending and increases government debt. In doing so, it encourages inflation instead of eschewing it, a departure from what the U.S. has done in the past.