Survey: Just 5 percent of economists believe Trump's big tax promise

[DonViejo]

Source: The Washington Post



By Max Ehrenfreund May 4 at 7:00 AM

President Trump is planning on cutting taxes, and his advisers have been arguing that he does not need to reduce federal spending at the same time. Instead, they say, reduced taxes will pay to stimulate the U.S. economy, so the government will not have to borrow more money to make up the difference.

Economists aren't buying it, according to a new survey conducted at the University of Chicago. Eighty-four percent of the experts polled disagreed that Trump's tax cuts would pay for themselves through increased economic growth. Just 5 percent said that they would, while the rest did not offer an opinion.

The figures were published Tuesday by Chicago's Initiative on Global Markets, which regularly polls a panel of prominent economists for their opinions on issues in the news.

Republicans have long argued that the economic stimulus from reduced taxes will increase the taxes the government collects on wages and investment, canceling out any effect on the government's bottom line. At a conference for investors in Beverly Hills on Monday, Treasury Secretary Steven Mnuchin said that fostering economic growth, along with getting rid of certain tax breaks, would make up for the foregone revenue.

Read more: https://www.washingtonpost.com/news/wonk/wp/2017/05/04/survey-just-5-of-economists-believe-trumps-big-tax-promise/?tid=sm_tw&utm_term=.6315d038efd7

[lark]

1. Typical Repug drivel.

All Repug so-called presidents say tax cuts for the rich trickle down and provide growth for the economy. Only thing is, this NEVER EVER happens. Reagan, Bush 1 and Bush 2 all did this and all caused recessions and depressions with their actions. Drumpf, being the biggest idiot in the idiot repug club, wants to double down and break the whole world economy so he can not pay taxes and it's legal and he can sweep in and steal everyone's properties, stocks etc. while they are vastly undervalued. Well, he and the other 1%ers will get to feast off their ill gotten goods .

[kristopher]

3. I think they had stellar growth under Reagan but it wasn't the tax cuts

Wasn't it pent up demand? The 70s were awful because of OPEC squeezing all the surplus out of our economy with oil embargoes.

[lark]

5. They had great growth until the tax cuts sunk in.

Then the economy died badly, I remember it well. Repugs never talk about the later Raygun years since the results were quite bad. it doesn't fit their myth.

[kristopher]

6. I'll take your word for it.

I was on the other side of the globe the last couple of Reagan's years and my focus wasn't on the US at all.

In any case, trickle down supply side economics is a proven loser unless your standard of measurement is how much wealth can be transferred upwards out of the middle class.

[Gothmog]

2. That is a higher number than I was expecting

[Turbineguy]

4. That's OK!

Climate change is a hoax too!