Tax cuts across all income brackets tend to benefit the wealthy. Why does this happen? To keep revenue the same, tax cuts on income require revenue to be generated with other, non-progressive taxes. Non-progressive taxes benefit the wealthy. Alternatively, if revenue is allowed to decrease, the budget deficit will increase. This means government borrowing will have to increase, which causes interest rates to increase. Increased interest rates also benefit the wealthy, because they have money to lend. Either result of across the board tax cuts ends up benefitting the wealthy.

The conclusion is the authors claim that income taxes for all brackets disproportionately benefit the wealthy: “across-the-board cuts for all brackets tend to have a similar effect.”