Posted on 05/09/2017 1:35:23 PM PDT by lowbridge
President Trump's administration says his tax cut will pay for itself. It turns out it's really hard to find an economist who agrees.
The University of Chicago's Booth School of Business regularly polls economists on controversial questions. In a survey the school published last week on Trump's tax plans, only two out of the 37 economists that responded said that the cuts would stimulate the economy enough to cancel out the effect on total tax revenue.
Those two economists now both say they made a mistake, and that they misunderstood the question.
“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 other respondent who said that Trump's tax cuts would pay for themselves was Bengt Holmström of the Massachusetts Institute of Technology, who confirmed in an email to The Washington Post that he had also misread the question.
Besides Judd and Holmström, another 35 economists said that the tax cuts would not finance themselves, and five more did not answer the question.
In total, there is not one economist in the Chicago poll who believes that Trump's cuts would pay for themselves, suggesting his administration might not be able to deliver on a crucial promise.
(Excerpt) Read more at washingtonpost.com ...
I guess they didn’t poll Laffer and Kudlow.
It’s our money. The government can learn to live without it.
BTW: Art Laffer disagrees with you.
If they can’t even read a simple question their opinions are useless.
Keynesian economists is my bet. Plus they got it wrong for 8 years with Obama. Wouldn’t trust them.
“35 of 37 economists said Trump was wrong.”
I had no idea there were so few economists in the world.
Which of these geniuses forewarned the nation about the economic crash of 2009 that has lasted seven years? Seems that all the economists during the Obama Reign of Error were always finding “green shoots” and other rosy scenarios that predicted an upturn that never happened except for the richest in the gambling den of Wall St. Now they can find nothing but gloom and doom, so expect a tremendous surge in the economy by next year.
35 of 37 hardcore leftist economist agree, Trump is a poo poo head.
Jobs are appearing out of nowhere ... just because companies believe they can invest in themselves again, Trump is forced to re-negotiate NAFTA and (perhaps) some other agreements and I just learned that before 1913, the USA had roads, schools, buildings, fire dept.s, police dept.s,government salaries, and we were educated enough to build the Empire State Building (f'rinstance) in record time, Hoover dam and a ton of etcetera's ..... and we were not taxed a dime !
Every penny earned was OURS !
We learned to save and invest and provide for ourselves and others and there was no welfare or anything.
And how did we pay for all of this ?
TRADE TAXES AND TARIFFS
So companies are going to expand, make MORE stuff and sell it all over the world and the "made in America" label will cost the buyer a little more.
The problem is accepting the premise that tax cuts have to be paid for. Once you accept the premise, you can’t win the debate. He who frames the question will always control the ranges of the answer. We have to ask the questions.
Economists also tell us that it’s good when a factory moves overseas, destroying the economy of the town that the workers lived in because the loss of incomes will be offset by the increase in profit.
So why do they suddenly care about “what it will cost” when people actually get to keep their own money? If the government makes less money, then the government needs to do what it tells us: tighten the belt, find ways to save, reduce your standard of living.
Economists are like climatologists.
They will say anything and change data measurements accordingly to match expectations based on the theology of their paymasters.
Thank you for pointing out the anti-Trump propaganda.
The notion that tax cuts need to be paid for exist only in seriously convoluted liberal minds.
Never underestimate the power of ignorant people in large groups.
“Keynesian-ism” is a pre-existing condition and not curable...
Straight to hospice, slow increasing drip morphine..Better World !
and whom is the $B+ president and whom are a bunch of 100K a year paper pushers.
And just how many of these 37 “economists”
(1) predicted the recession in 2007 - only 6 months before the stock market lost 40% of its value due to DEMOCRAT demands on the energy and housing financial industries?
(2) predicted that the recession would stay stagnant for 8 years as their Washington democrats pushed interest rates to zero, savings returns to zero, taxes up, healthcare costs up, and government handouts to anybody who would vote democrat?
“and whom are a bunch of 100K a year paper pushers.”
Mooshell’s old room mates from college and their husbands??
(now undermining the Donald?)
Exactly;
These clowns are economist like bill nye is a scientist...
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