No tax on the rich
With the TCJA, I see that total tax revenue did not go down. Why is that?
One claim is that without the TCJA, we would have collected more total revenue, but that is hard to know (e.g., maybe GDP goes down, or velocity of money changes).
Any thoughts or reading material?
With the TCJA, I see that total tax revenue did not go down. Why is that?
One claim is that without the TCJA, we would have collected more total revenue, but that is hard to know (e.g., maybe GDP goes down, or velocity of money changes).
Any thoughts or reading material?