Now out of the sausage stage, the Senate’s version of tax reform adds $1.4 trillion over 10 years to the country’s debt through tax cuts that will predominately benefit big business and the super wealthy.
For Kansans, it’s a bad dream déjà vu. Thanks to Gov. Sam Brownback’s infamous tax cuts of 2012-13 we know they do not spur new business. Without adequate tax revenue to pay for goods and services the country will become even more of a debtor to wealthy countries like China.
Even optimistic economists say that while the country may experience a “small boost” to the GDP, those moments will be fleeting because of the increased costs of financing a higher debt load.
