Tuesday, May 09, 2017
Economists Agree: Trump Tax Plan Will NOT Pay For Itself
The charts above are from a recent University of Chicago School of Business survey released on May 2nd. They asked 37 respected economists two questions. A) Do large tax cuts result in a drop in government revenue? And especially, Will the Trump tax cut pay for itself through enhanced economic growth?
They agreed that tax cuts do result in less government revenue, and that the Trump tax cut would NOT pay for itself by stimulating massive economic growth. That was the opinion of 35 of the 37 economists. And after the poll was released, the other two economists said they had misunderstood the questions. They actually agreed with the other 35 economists.
Trump wants to give himself, his rich friends and family, and his corporate buddies a massive tax cut -- and to do that, he is lying to the American people about what that tax cut will do for the economy. His cut will not pay for itself, will not cause huge economic growth, and will not create millions of new jobs. It will simply balloon the federal deficit and national debt.
His claims are just more "trickle-down" lies.