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October 26, 2005: Tax Cuts Undercut Economy

Tax cuts enacted since 2001 have already hurt the federal budget to the tune of $929 billion, yet the promised economic boost to jobs, income, business investment, and GDP have failed to materialize.  Today’s Snapshot by Economic Policy Institute research director Lee Price illustrates that tax cuts failed to boost major measures of economic activity.  The one exception was the outstanding growth in housing investment, which faced higher effective taxes since 2001, showing that higher taxes need not impair growth.

To read the snaphsot, click here.

For more on EPI research director Lee Price, click here.

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