Supply-side economists contend that cutting taxes on the wealthy will cause them to invest in supply and the money will trickle down to the rest of us. They say this will not increase the deficit. The 2017 tax cut resulted in a $1.7 trillion increase to the deficit, the largest increase in history. Meanwhile, during a pandemic in which more than 750,000 Americans have died, the rich have gotten richer and the middle/lower classes are the struggling to make ends meet.

Demand-side economists theorize that creating jobs and putting money into the hands of middle/lower classes will increase demand and wealthy people will invest in businesses to meet that demand. Thus, all classes will benefit. I agree with the humorist Will Rogers. He favored demand-side economics because, either way, the money is going to end up in the hands of the wealthy, but wouldn’t it be nice if the little people got to touch it along the way?

Much of the sausage-making that goes on in Congress is arguments between supply-side and demand-side economics. The supply-siders focus totally on giving advantages to the wealthy and voice no concerns for the deficit as long as the rich get richer. The demand-siders focus on people and productivity, particularly in the middle/lower classes.

Supply-siders supported an infrastructure bill under the previous administration. But they couldn’t make the sausage. The bipartisan physical infrastructure bill recently signed by President Biden is a notable example of the messy, sausage-making process that democracy requires. You give a little. They give a little. Everyone wins. Senators Shelby and Tuberville and Congressman Aderholt voted against this bill because?

Build Back Better is a second bill addressing more subtle infrastructure and productivity issues. Examples: childcare and eldercare to help keep women in the labor market, helping businesses increase resilience against natural disasters, encouraging clean energy, and closing gaps in healthcare. This is to be paid for by stricter enforcement of existing tax laws, thus requiring the wealthy to pay their fair share. Shelby, Tuberville and Aderholt have pledged to vote against this bill because?

You are the people that will benefit from these bills. Republican legislators argue that they worry about the deficit yet supported the largest deficit increase in history. How much did you benefit from the 2017 tax cut? Next time let’s vote for candidates who focus on productivity instead of wealth.

Tobey Miller,

Fort Payne, Alabama

Send letters to the Times-Journal by writing P.O. Box 680349, Fort Payne, AL 35968. Fax 256-845-7459. Email emily.kirby@times-journal.com.

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