In the next two years, the U.S. could plummet into another recession, according to research from JPMorgan Chase & Co. The study’s researchers claim there is a 60 percent chance that an economic downturn will occur in two years, and an 80 percent chance it will happen in three years.Unsurprisingly, the latest round of federal tax cuts – whereby the top 20 percent of earners have received the largest break – is a significant reason for the projected economic slowdown. According to the Institute on Taxation and Economic Policy, by 2025 about $2 trillion of the cuts will have gone to the richest one percent.
As the New York Timesreports, quoting the former chairman of the Federal Reserve, Ben Bernanke, the tax cut “is going to hit the economy in a big way this year and the next year.…