- Large tax cuts for the rich cause higher income inequality, and don't fuel economic growth or cut unemployment, a new paper by academics from the London School of Economics and King's College London shows.
- Their analysis of 50 years of tax cuts for the wealthy in 18 countries counters arguments that such cuts have "trickle-down" effects for the rest of the economy.
- "Cutting taxes on the rich increases top income shares, but has little effect on economic performance," the researchers concluded.
A huge study of 50 years of tax cuts for the wealthy suggests 'trickle down' economics makes inequality worse
Cutting taxes boosts incomes for the wealthy "but has little effect on economic performance," prominent academics David Hope and Julian Limberg said.