"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
How Much Does A Tax Cut Cost?
Taxes are revenue for the government collected involuntarily from its citizens. Therefore, a cut in taxes simply means less non-consensual money is taken from taxpayers. It is not money changing hands from the government to citizens. Indeed, it is money not changing hands. A tax cut is lowering the rate of taxation, and similarly a tax expenditure is using exemptions, deductions, and credits to target particular situations for tax relief. George Reisman says:
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