Trump’s tax cut won’t power the growth he predicts, officials concede
8 replies, posted
https://www.nytimes.com/2019/03/19/us/politics/trump-tax-cut-economic-forecast.html
WASHINGTON — The Trump administration pushed a $1.5 trillion tax cut through Congress in 2017 on the promise that it would spark sustained economic growth.
While the tax cuts have goosed the economy in the short term, officials now concede they will not be enough to deliver the 3 percent annual growth the president promised over the
long term.
To produce that average growth rate for the next decade, White House forecasters say, the American economy would need additional rollbacks in labor regulations, a $1 trillion
infrastructure plan and another round of tax cuts.
Getting all those policies implemented would be highly unlikely, given a divided Congress and a ballooning federal deficit, which could limit lawmakers’ appetite to spend money on a
new tax cut or infrastructure plan.
But without those additional steps, the president’s economic team predicts in a report released on Tuesday that growth would slow to about 2 percent a year in 2026. That
is the year when many of the individual tax cuts included in the 2017 law are set to expire, essentially producing a tax increase for millions of Americans.
To produce that average growth rate for the next decade, White House forecasters say, the American economy would need additional rollbacks in labor regulations, a $1 trillion
infrastructure plan and another round of tax cuts.
Starve the future to pay for the present. That's the motto of the Trump Administration.
Considering the cuts to benefits it's more a case of starving the present to pay for the present
I like especially the part where it balances out in 25 years if we have sustained 3-4% gdp growth and yet they would rather spend 1Tn now to get to the 7Tn the economy should grow by in 10 years, even though tax cuts have been the most inefficient way to grow the economy in the long term because we spend a massive sum of money and forgo a massive amount of revanue for a measly few tenths of a percent on growth.
A 1 trillion infrastructure plan and more tax cuts at the same time, this is a 200 IQ idea right here.
Then why are you allowing him to carry out his plan? grow some balls and say no
With Republicans in office, math becomes arcane sorcery.
excellent way for him to fire you and just replace you with a sycophant, truly the heroes america needs
"No Fucking Shit..."
Looks at Kansas...
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