All taxes are a drag on economic growth. It's only a question of degree.
Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.
Whatever you tax you get less of.
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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