by Summary:
Last night Chris Hayes ended "All In" with a discussion of the GOP Tax Plan. Economists David Cay Johnston and Stephanie Kelton agreed that if Republicans get their long-awaited wich and this budget-busting tax plan is enacted, the huge deficits it will create might not lead to the promised "growth" Steve Mnuchin insists will result.What happens if Steve Mnuchin is wrong? Austerity budgets that cut into the heart of the biggest programs paid for out of the federal budget: Social Security and Medicare.... Stephanie Kelton explains how the GOP has set it up so they win even if they lose. They win if there is a big jump in growth, taxes pile in, and there is no increase of the deficit, hence, the debt (unlikely). They lose is there is a ballooning deficit and debt that voters perceive as a
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Mike Norman considers the following as important: Trump tax cuts
This could be interesting, too:
Last night Chris Hayes ended "All In" with a discussion of the GOP Tax Plan. Economists David Cay Johnston and Stephanie Kelton agreed that if Republicans get their long-awaited wich and this budget-busting tax plan is enacted, the huge deficits it will create might not lead to the promised "growth" Steve Mnuchin insists will result.What happens if Steve Mnuchin is wrong? Austerity budgets that cut into the heart of the biggest programs paid for out of the federal budget: Social Security and Medicare.... Stephanie Kelton explains how the GOP has set it up so they win even if they lose. They win if there is a big jump in growth, taxes pile in, and there is no increase of the deficit, hence, the debt (unlikely). They lose is there is a ballooning deficit and debt that voters perceive as a
Topics:
Mike Norman considers the following as important: Trump tax cuts
This could be interesting, too:
Mike Norman writes Stephanie Kelton — The Democrats’ Options for Repealing the Trump Tax Cut
Mike Norman writes Noel Randewich — S&P 500 Companies Return Trillion To Shareholders In Tax-Cut Surge
Mike Norman writes David F. Ruccio — Buyback this!
Mike Norman writes Simon Wren-Lewis — Do Trump’s deficits matter?
Last night Chris Hayes ended "All In" with a discussion of the GOP Tax Plan. Economists David Cay Johnston and Stephanie Kelton agreed that if Republicans get their long-awaited wich and this budget-busting tax plan is enacted, the huge deficits it will create might not lead to the promised "growth" Steve Mnuchin insists will result.Stephanie Kelton explains how the GOP has set it up so they win even if they lose. They win if there is a big jump in growth, taxes pile in, and there is no increase of the deficit, hence, the debt (unlikely). They lose is there is a ballooning deficit and debt that voters perceive as a financial threat calling for increased taxes. But they also win since they can argue that taxes don't need to be raised but rather expenses cut, giving them a clear shot at Social Security and Medicare (likely).
What happens if Steve Mnuchin is wrong? Austerity budgets that cut into the heart of the biggest programs paid for out of the federal budget: Social Security and Medicare....