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Fifty Years of Tax Cuts for Rich Didn’t Trickle Down, Study Says

  • Paper looks at fiscal policies in 18 countries over 50 years
  • Governments shouldn’t worry about taxes on rich, author says
Bloomberg business news
That's Debatable: Is It Time to Redistribute the World's Wealth?

Tax cuts for rich people breed inequality without providing much of a boon to anyone else, according to a study of the advanced world that could add to the case for the wealthy to bear more of the cost of the coronavirus pandemic.

The paper, by David Hope of the London School of Economics and Julian Limberg of King’s College London, found that such measures over the last 50 years only really benefited the individuals who were directly affected, and did little to promote jobs or growth.