Justin Fox, Columnist

Yes, the Tax Cuts Have Cost the U.S. Treasury Money

Tax receipts are down in nominal terms since the Tax Cuts and Jobs Act took effect. Adjusted for inflation, they’re down a lot.

September 14, 2018 at 5:17 PM UTC

By Justin Fox

Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.”

… do not come for free. — … do not come for free.
Photographer: Andrew Harrer/Bloomberg

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Wow, do we really have to go through this again? Here’s Brian Wesbury, chief economist at First Trust Advisors LP in Wheaton, Illinois, and a long-time fan of tax cuts:

Just in case the bottom of that tweet was cut off in your browser, let me repeat Wesbury’s words: “The tax cuts have not cost the U.S. Treasury money, because the tax cuts boosted growth. Yes, the deficit is up, but that’s because spending is up.”