Once again: Revenue growth through tax cuts is a mirage
The Kentucky General Assembly prepared to cut the state's individual income-tax rate from 4% to 3.5%. Despite the assembly's goal of generating revenue through these cuts, revenue was expected to decline. An editorial piece argues that this method of revenue growth is a mirage.
Nearly two years ago, I wrote in this publication that the Kentucky General Assembly’s faith in income tax rate cuts as a vehicle for generating revenue was a mirage. At the time, the state was preparing to cut the individual income-tax rate from 4% to 3.5% even as revenue was expected to decline. I argued […]
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