Lower taxes on wealthy lead to lower economic growth, higher national debt.
Lower Taxes on Wealthy Lead to Lower Economic Growth, Higher National Debt

Time and time again the GOP financed tax cuts with borrowed funds, running our national debt into the tens of trillions of dollars. Most of the federally subsidized tax cut dollars flowed to wealthy taxpayers who invested a substantial portion of these dollars in the stock market. According to DJIA historical data downloaded from the Macrotrends web site, the DJIA earned 9 percent per year from 1982 to 2019. Unfortunately, our economic growth declined 34 percent during this period compared to the economic growth between 1947 and 1981, when this historical data showed the DJIA only earned 5 percent per year.

Retired federal auditor with over 30 years in the transportation industry, degree in taxation, a forever Eagle Boy Scout