5. How can we know the macroeconomic effects of tax cuts? Despite plutogogues having convinced Joe-The-Plumber to be fervently certain they’ll boost the economy, neither he, nor most of us, are trained in economics. Even (honest) expert macroeconomists can’t be sure (their forecasts routinely fail). Within economics certainty itself can be (math-enabled) hubris. Markets, like gods, move in mysterious ways. 6. Even if economic progress did depend critically on top-folk, that wouldn’t mean policy should mainly focus on making their lives easier. They, like us all, depend on inclusive success (see good vs bad 1%). 7. Some suggestions for a savvier approach: (a) We’re all biased and need bias-balancing input (don’t put all your eggheads in one basket). (b) Much of economics is zero-sum, don’t ignore those harmed by what benefits you. (c) Much in economics is uncertain and complex = can’t rely on plausible seeming ideas (like cutting jobless benefits increases employment, or education will reduce income inequality). (d) Uncertainty requires contingency plans (plan B if tax cuts didn’t benefit the masses?). (e) No politics of parts can work unless the health of the whole governs. (f) Heed the logic of needism. Blessed are those with humble elites. Otherwise nemesis lurks (and doom looms). - bigthink.com