Tax Cut Doomsayers Need a History (and Economics) Lesson

The recent federal tax cut is creating a lot of fear and angst that a quick historical survey would go far to allay.
Consider, for example, this recent opinion piece by two officials of the Council of Nonprofits, “Nonprofits Must Move Swiftly to Fight for Sound Public Policies.” Characterizing the tax bill as unleashing a “destructive tsunami,” they go on to predict:
as governments at all levels are forced to cut spending, more work will fall on nonprofits to help people hurt by the spending reductions. Expect nonprofits to have to seek more money from foundations to cover those costs—think of it

Read more at The Independent Institute