According to a new survey from the University of Chicago, vanishingly few economists agree with the claim of President Donald Trump’s administration that blowing up the deficit with tax cuts for the rich will pay for itself by generating new economic growth. Professional economists have warned of Trump’s economic agenda for over a year; when will news outlets stop taking his boasts seriously? On April 26, the Trump administration unveiled a plan to slash taxes for high-income earners, and Treasury Secretary Steven Mnuchin implausibly claimed the tax proposal “will pay for itself” by stoking latent economic growth.

BING NEWS:
  • Trump win sets up GOP battle between deficit hawks, tax cutters
    President-elect Trump’s election win is setting up a fight among Republicans over cutting taxes and reining in the deficit as the party inches toward control of both chambers of Congress.
    11/11/2024 - 8:59 pm | View Link
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