ISU economist: tax cuts don't work

An Iowa State University economist says an important detail is being ignored as Congress debates a massive tax cut. Dave Swenson says big cuts during Reagan and George W. Bush amdinistrations didn't create new jobs or stimulate the economy. He says the presumed new productivity also presumes that consumers will have more money but history shows that's not the case. Tax cuts are job-one for the Senate and President Trump this week.  The Senate Budget Committee is scheduled to vote tomorrow on it's version of a tax cut bill. If the committee approves the bill it will come up for a vote on the Senate floor Thursday or Friday.