Source: Independent Institute
by Richard K Vedder & Stephen J Moore
“While the Big Beautiful budget bill recently enacted into law has a multiplicity of good, bad, and benign features, the law’s biggest and most beautiful feature is the continuation of the soon-to-expire 2017 income tax reduction enacted in Donald Trump’s first term. Although much of the American press has characterized this as a big gift to the rich, the empirical evidence paints an altogether different picture. By 2019, the second year of the Trump tax cut and immediately before the economic disruption of the pandemic, total output rose by 3.2 percent annually, the greatest growth in 15 years. And it was the poor, not the rich, who disproportionately benefited.” 907/24/25)
https://www.independent.org/article/2025/07/24/blue-states-high-tax-state-of-mind/