Companies prove tax cuts working
Our state is seeing positive benefits from the Tax Cuts and Jobs Act.
Linwood-based Hudson Facades recently put $3,000 in factory workers’ 401(k) funds. Johnstown-based First Summit Bank announced $1,000 bonuses for its full-time employees. Philadelphia’s Beneficial Bancorp, meanwhile, raised base wages to $14 an hour.
The writing is on the wall: Tax cuts work. Lower rates and increased deductions work because they empower job creators to reward employees and increase private investment, growing communities across Pennsylvania.
But Washington’s job is not done. If tax cuts are not matched with spending cuts, then the economic benefits will be short-lived.
Government spending funded by government debt wreaks havoc on the federal budget and sets us on an unsustainable financial course.
Gains from tax cuts will be lost through diverting private savings away from productive investment and into the hands of government bureaucrats.
Limited government means lower taxes, but it also means lower spending.
Professor of economics
Grove City College