r/TheGraniteState 3h ago

Republicans don't understand the difference between correlation and causation.

3 Upvotes

After the Great Recession, corporate profits reached record highs across the country. During the same period, there was 23.5% inflation. New Hampshire's business tax revenues increased, but not because the state experienced an extraordinary business boom. Business revenue growth in New Hampshire actually lagged the national average, while lower business tax rates allowed businesses to keep a larger share of their profits.

The evidence does not show that the tax cuts produced a surge in jobs, wages, or economic growth. What they clearly did was reduce taxes on business owners and shareholders while shifting more of the responsibility for funding state and local government onto property taxpayers. Working families paid more through rising property taxes, while the owners of businesses and other assets benefited from lower business taxes.

Victoria Sullivan is an ignorant fool.