Republican Tax Cuts are Primarily Responsible for the Increasing Debt Ratio

"Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues." In fact, "these tax cuts have added $10 trillion to the debt since their enactment" and "are responsible for more than 90 percent of the increase in the debt ratio if you exclude the one-time costs for responding to COVID-19 and the Great Recession."

Kogan concludes that, "If Congress wants to decrease deficits, it should look first toward reversing tax cuts that largely benefited the wealthy." However, Extreme MAGA Congressional Republican's proposals would add over $3 trillion to the debt with tax giveaways skewed to the wealthy and large corporations while raising taxes for working families.