It isn’t tax cuts that are driving federal deficits

Writing last month about the explosive growth of a national debt that’s approaching $29 trillion, I put the blame on America’s two fiscally reckless political parties. Republicans and Democrats alike keep enlarging the federal budget, spending more and more money the government doesn’t have and steadily engulfing the nation in red ink.

The response from many readers was to scoff at my failure to mention tax cuts — especially the 2017 Tax Cuts and Jobs Act, signed by President Trump, which lowered individual and corporate tax rates. “You blame the government debt entirely on government spending,” wrote one correspondent. “You conveniently fail to mention the cuts in taxation.” Admonished another: “What is irresponsible is not investing in America’s infrastructure, education, and health, but the refusal to pay for it with tax increases on those who can afford it.”
Money by Pictures of Money is licensed under flickr Attribution 2.0 Generic (CC BY 2.0)

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