Tag Archives: Trump tax cuts

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...

The Committee for a Responsible Federal Budget, a nonpartisan budget watchdog in Washington, on Friday called a Senate Republican tax plan a “fatally flawed budget buster,” likening it to Republican legislation in the House of Representatives that the House tax committee has approved.... The Tax Foundation, another nonpartisan group, said the Senate plan would add $1.78 trillion to the deficit over a decade. It estimated that over the same time frame lower taxes would expand the U.S....

Designing a tax plan that will actually increase spending and therefore employment is really not all that difficult. All you have to do is meet two criteria: 1. The tax cuts must not be offset by spending cuts (or tax increases elsewhere). 2. The tax cuts must increase the incomes of those who will actually spend the money.... Forbes — Pragmatic EconomicsThe Disastrous Trump Tax PlanJohn T. Harvey | Professor of Economics, Texas Christian University Also The tax plan released by...

As the 2018 midterm congressional election campaigns grow nearer, the poll found that more than two-thirds of registered voters said reducing the U.S. federal budget deficit is more important than cutting taxes for the wealthy or for corporations.Trump’s plan would balloon the deficit and add to the $20 trillion national debt, according to critics and independent analysts, but Republicans say the tax cuts proposed in the plan would be offset by economic growth that would generate new tax...

The billionaire brothers Charles and David Koch spent much of the eight years of the Obama presidency stoking fears about the budget deficit. Their political network aired an unending cascade of campaign advertisements against Democratic politicians, sponsored several national bus tours, and paid organizers in communities across the country to mobilize public demonstrations, all focused on the dangers of increasing the deficit. One such ad even warned that government debt would lead to a...

Passing FY 2018 Senate budget has "some eerie parallels" to health care, as no Democrats will vote for the budget; Sen. Rand Paul is expected to vote no because it doesn’t cut spending fast enough; Sen. John McCain also sounds like a no as it doesn’t repeal sequester, which disproportionately hits the Pentagon. That means GOP can only afford one more defection, with Corker, a deficit hawk, engaging in "one of the more surreal public correspondence exchanges in recent memory" days after...

Business InsiderOne chart shows why Trump could have big trouble getting his tax plan past some Republicans Bob Bryan

John Harvey rates the Trump tax plan piece by piece.Forbes — Pragmatic EconomicsTrump’s Tax Plan: The Good, The Bad, And The UglyJohn T. Harvey | Professor of Economics, Texas Christian University