Woolfsmck 2,763 Posted February 11, 2020 Share Posted February 11, 2020 https://www.msn.com/en-us/news/politics/trump-deficit-forecast-is-built-on-shaky-assumptions-experts-say/ar-BBZRw41?ocid=spartanntp "A lot of specific policies are meaningful, but the overall numbers are largely phony,” said Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget /////////////////////////////////////////// How come the Republicans can't see this? Trickle down is more like … line our own pockets theory... like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,851 Posted February 11, 2020 Share Posted February 11, 2020 For starters his "tax cuts will pay for themselves" required them to have a ripple effect of nearly 6 times (as in $6 of GDP growth for every $1 tax cut) based on the fact that taxes on private sector equal roughly 17% of GDP Your lucky to get a ripple effect of 3X under the most favourable of circumstances So even in the best of times a $200 Billion tax cuts will only lift growth to compensate back about $100 Billion based on rough current US taxation levels. They never pay for themselves This baffon can't make sense of the most basic things so I definitely don't trust him and his team for any kind of fiscal projections Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted February 11, 2020 Author Share Posted February 11, 2020 46 minutes ago, Economy said: For starters his "tax cuts will pay for themselves" required them to have a ripple effect of nearly 6 times (as in $6 of GDP growth for every $1 tax cut) based on the fact that taxes on private sector equal roughly 17% of GDP Your lucky to get a ripple effect of 3X under the most favourable of circumstances So even in the best of times a $200 Billion tax cuts will only lift growth to compensate back about $100 Billion based on rough current US taxation levels. They never pay for themselves This baffon can't make sense of the most basic things so I definitely don't trust him and his team for any kind of fiscal projections This is one time that I am side with the liberals on policy.... Cutting corporate tax rate to Competative levels sure helped since the former rates were prohibitive to luring foreign investement... But they are too steep and the growth stimulus would have been about the same if the rates were left a little higher... Plus, the biggest issue is what the gov. does with said tax payer money... More spending controls, less bs.. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,851 Posted February 11, 2020 Share Posted February 11, 2020 1 hour ago, Woolfsmck said: This is one time that I am side with the liberals on policy.... Cutting corporate tax rate to Competative levels sure helped since the former rates were prohibitive to luring foreign investement... But they are too steep and the growth stimulus would have been about the same if the rates were left a little higher... Plus, the biggest issue is what the gov. does with said tax payer money... More spending controls, less bs.. The old 35% rates (plus State Rates) were too high and Internationally uncompetitive The new 21% rates Trump brought (factoring in that there's new loopholes as well that make the real rate even lower) is too low and America is loosing too much revenue and not resulting in as much growth as promised anyway Something in the middle between old high rate and new low rate would be ideal but as usual Balance is a concept that's challanging for the Government to grasp it's always gotta be one extreme or the other 21% is not a bad rate if it was an effective rate (that's in line with many developed nations) but it's very low when u factor in that the US tax code has A LOT of loopholes for expense write offs and very very few Corporations actually pay 21% Link to post Share on other sites More sharing options...
Featured Posts
Archived
This topic is now archived and is closed to further replies.