Comments by "duncan smith" (@duncansmith7562) on "UK government U-turns on plan to scrap 45% tax rate for highest earners • FRANCE 24 English" video.

@silus73 so why the sudden use of the phrase "unfunded tax cuts" when no govt has had a surplus for decades? Ceteris paribus, a tax cut does not mean reduced government revenue. simple example. 10 billionaires pay no tax to the UK govt while residing in Dubai. Massive tax cuts at home induce them back, and suddenly the UK govt gains revenue from them. Lower income taxes is a stimulus for more work (people are happier to work longer hours and be more productive if they keep more of their earnings) and this increase in working hours brings in more tax revenue than with the higher tax rates but less work/income. Prescott already proved this effectively, but Socialists refuse to believe it!
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where did this phrase "unfunded tax cuts" come from? why would a tax cut ever be "funded" when the theory is tax cuts mean an increase in government revenues?
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