Here's another antidote for all the tax-cut-hating going on these days. The Joint Economic Committee explains how tax cuts make the U.S. more competitive when up against other advanced nations-- Australia, Canada, France, Germany, Italy, Japan, Spain and the United Kingdom.
Capital investment is highly mobile; it tends to flow to places where it is most lightly taxed. Accumulation of capital tends to raise productivity and increase living standards and wages. From a tax standpoint, the United States is now more attractive than it was several years ago as a destination for capital.
Overall, the United States is at or near the top among the large advanced economies in terms of how favorable its tax climate is for economic growth.
Moreover, tax relief begins accruing at incomes as low at $10,750, although the dollar amount of the taxes saved is lower because people at those levels of income pay few dollars in taxes than people at higher levels.