Georgia Dickens is sitting with a friend at a coffee shop, and they are talking about the new tax bill. Georgia thinks that cutting tax rates at this time would be wrong: “Lower tax rates,” she says, “will lead to a larger budget deficit, and the budget deficit is already plenty big.” Do lower tax rates mean a larger deficit? Why or why not?
Macroeconomics
Macroeconomics
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Georgia Dickens is sitting with a friend at a coffee shop, and they are talking about the new tax bill. Georgia thinks that cutting tax rates at this time would be wrong: “Lower tax rates,” she says, “will lead to a larger budget deficit, and the budget deficit is already plenty big.” Do lower tax rates mean a larger deficit? Why or why not?
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