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The Tax Cuts and Jobs Act passed in December has been credited for kick-starting economic growth and boosting workers’ wages. It’s also been blamed for enriching the already well-off at the expense of labor, and for dooming us all to a life of perpetual deficits. Its supporters tout the bonuses many firms doled out in January as evidence of its success. Its opponents point to stock buybacks and increased dividends paid out to shareholders as proof of its failure.
But what can we really say about the tax law at this point in time? To break it all down, I’m joined by AEI tax expert Alan Viard. He earned his PhD in economics from Harvard University, has worked as a senior economist at the Federal Reserve Bank of Dallas and the White House’s Council of Economic Advisers, and has forgotten more about tax policy than most people will ever know.
Recent work from Alan Viard:
- Supreme Court ruling on online sales tax sets level playing field
- We should allow all taxpayers to deduct charitable contributions
- Too Clever by Half: The Politics and Optics of the Two-Part VAT
- Economic Effects of the Corporate Tax Rate Reduction
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