Took me a while to come up with a title. But if this isn’t an indictment of excessive regulations being at least ineffective, then what is?
Made up numbers for the sake of argument.
Say my current tax burden is 30% of pre-tax income. My spending is another 25%. That makes my savings rate 45%. I am saving nearly twice as much as I am spending.
Now cut taxes. Even if a tax cut increases inflation 1:1, my savings (inflated assets) will nominally increase more in absolute dollars than my spending (inflated assets) will. Therefore I come out ahead.