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The other 2 said that they misunderstood the question and they also agree that deficits would explode.
Quote:
"I screwed up on that one,” said one of those two economists, Kenneth Judd, when asked about his response to Trump's tax claim. “I meant to say that this is a horrible idea, a bad idea — no chance in hell.”
The goal of tax cuts is not to pay for itself. Tax cuts are to stimulate private sector spending and jump start economic activity with the secondary hope that more tax money will be brought forth through the velocity of money flow.
For the government, it is revenue and spending that matters. They are not interested in balanced budgets. So it really doesn't matter whether it's tax cuts or tax increases... the government will overspend either way.
So they might as well allow me to keep more of what I earn.
The goal of tax cuts is not to pay for itself. Tax cuts are to stimulate private sector spending and jump start economic activity with the secondary hope that more tax money will be brought forth through the velocity of money flow.
For the government, it is revenue and spending that matters. They are not interested in balanced budgets. So it really doesn't matter whether it's tax cuts or tax increases... the government will overspend either way.
So they might as well allow me to keep more of what I earn.
We get the point, but does it actually work? Data suggests not.
Location: Born & Raised DC > Carolinas > Seattle > Denver
9,338 posts, read 7,114,351 times
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BILLIONS in tax cuts to BILLIONAIRES.
That's the Trump way. #MAGA
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