While supply-side economic policies favour lowering taxes overall, trickle-down theory distinctively earmarks lowering taxes on the upper end of the economic spectrum. While the study's research extends up to 2015, Dr. Hope noted that this analysis would also apply to President Donald Trump's 2017 tax cuts. With taxes having been a subject of scrutiny during the pandemic, this study offers some relief to policymakers. As per this model, the wealthy should pay for both the pandemic today and invest in the public's long term well-being. It will be interesting to see how President-Elect Joe Biden's tax policies play out as he has rejected a wealth tax.

Source: Mint December 25, 2020 13:06 UTC