12-04-2017, 12:14 PM
The letter Paul Ryan held up when the Senate bill was passed, claiming it was an endorsement from 100 economists supporting the plan, is really just a letter saying that lowering the corporate tax rate will increase jobs and investment in the U.S. Ignoring the question of credibility surrounding some of those who signed the letter..................it does not state that lowering personal income tax temporarily + repealing the estate tax on the extremely wealthy + reducing the corporate tax rate will generate enough growth revenue to cover the cost of the tax cuts. It is thus not an endorsement of the legislation.
Is it possible that all the economists and experts are wrong and Trump and the GOP are right? Yeah, anything is possible with variable forecasting. But, it is not realistic at all based on history and responsible analysis. It's wishful thinking or a false promise.
The only realistic way to reduce the risk of a short term economic (and market) boom followed by real pain for everyone but the rich shortly down the road........ is to cut governmental spending as much or more as the cut in tax revenue. The GOP won't look at cutting military spending, they never do. What they will do, in my opinion, is try to cut spending in Medicare, Medicaid, and Social Security.
Is it possible that all the economists and experts are wrong and Trump and the GOP are right? Yeah, anything is possible with variable forecasting. But, it is not realistic at all based on history and responsible analysis. It's wishful thinking or a false promise.
The only realistic way to reduce the risk of a short term economic (and market) boom followed by real pain for everyone but the rich shortly down the road........ is to cut governmental spending as much or more as the cut in tax revenue. The GOP won't look at cutting military spending, they never do. What they will do, in my opinion, is try to cut spending in Medicare, Medicaid, and Social Security.