Tax Cuts

A reduction in taxes is a tax cut. Tax cuts reduce the government’s revenue while simultaneously increasing the wealth of the segment of the population that saw its taxes lowered. A tax cut is instituted by governments as a way to stimulate economic growth during economic downturns. A tax cut can be temporary, in order to weather an economic downturn, or it can be permanent, to increase the wealth of the society as a whole.


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From: Michael Lombardi, MBA
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