I recently saw a commentary on the President’s new tax plan and, to no one’s surprise, the speaker characterized it as “trickle-down economics,” a throwback to the bad old days of the Reagan Tax Cuts. Trickle-down economics in this context is a pejorative term the left uses to describe almost any policy that reduces taxes. Such policies are alleged to be favored by conservatives in order to help the wealthy, but rationalized by false claims that everyone will benefit. Letting the dogs eat the scraps that fall from the table, so to speak. There is tremendous irony in this charge, but notwithstanding the irony, the actual reasons for cutting tax rates have nothing to do with helping one class at the expense of another. There are many sound reasons to reduce taxes, but let’s start by at least refuting two of the primary talking points used by progressive opponents of tax cuts. The first, and most emphatic, progressive talking point is that a tax cut...(Read Full Article)