A top economist believes,Trumps tax bill will help the economy

[Proteus_MST]

At least, I guess, this is how Trump or one of his PR team would formulate it.

They would, however, forget to mention that 41 other top ecoonomist believe the contrary

The University of Chicago’s Booth School of Business regularly runs a survey among a group o selected op business scientists (many of whom are nobel price winners or WH veterans).
This time the survey as about the GOP tax reform and wether it will help the US economy or not.

As mentioned before, 41 of the 42 top business scientists (who answered the survey) answered that the tax reform won't hhelp the US economy.
Only one of them answered positively.

https://www.vox.com/policy-and-politics/2017/11/22/16691016/economists-gop-tax-plan-igm-poll

[ZEE]

Why did you put a comma in the thrade title?

Sent from my HTC Desire 626 using Tapatalk

[Proteus_MST]

Why did you put a comma in the thrade title?

Because I am a bloody german.
In german it would be written with the comma:
" ... jemand glaubt, dass ..."

Sometimes I forget that english speakers are a little bit more stingy with their commas

[Broken_Erika]

Obviously the other 41 economists are Paid Soros Trolls!

[Kidlicious]

You have to be pretty stupid to not understand that lowering corporate taxes causes economic growth. A lot of economists aren't worth a damn. They might as well have a degree in gender studies.

[Kidlicious]

Tax cuts, like those included in President’ Trump’s tax reform package, boost economic growth, according to the Tax Foundation.

• President Bush’s 2001 tax cuts contributed 2.3 percent to economic growth over ten years.
• President Clinton’s 1997 tax cut contributed 0.8 percent to economic growth over ten years.
• President Reagan’s 1986 corporate income tax cut contributed 3.3 percent to economic growth over ten years.
• President Reagan’s 1981 tax cuts contributed 8 percent to economic growth over ten years.
• President Kennedy’s 1962 and 1964 tax cuts contributed 6.2 percent to economic growth over ten years.

WH.gov

[Proteus_MST]

Tax cuts, like those included in President’ Trump’s tax reform package

WH.gov

I don't have the time to research this, but I would not be surprised if the only likeness that Trumps tax reform has with the tax cuts of the years mentioned is, that both are tax cuts

[Kidlicious]

I don't have the time to research this, but I would not be surprised if the only likeness that Trumps tax reform has with the tax cuts of the years mentioned is, that both are tax cuts

Why would you need to do research? Don't you know anything about the history of tax cuts in America?

[Proteus_MST]

Why would you need to do research? Don't you know anything about the history of tax cuts in America?

I know that there were many.
But tax cut isn't equal tax cut (only maybe in the simplicistic world view of Trump).

Also the fact that a tax cut and economic growth fall into a smilar period doesn't say anything about, the degree, to which the tax cut contributed to the econmic growth (there surely are lots of factors which influence economic growth ... a tax cut is only one possible contributor)

I would trust more the opinion of 41 top economists (some of which have nobel prizes), that the GOP tax reform (in the form that we know about, to date) won't do much to stimulate economic growth, than I would trust the words of the WHs economic avisors, that it does.
Especially if I have to suspect that Trump nominates people as economic advisors that know as much of their field of expertise, as Trumps nominee for the post of environmental advisor knew of hers

[Kidlicious]

They might be saying that the Tax cuts won't pay for themselves, which is a claim that every tax cutter politician makes. Massive tax cuts grow the economy. It doesn't even matter what those taxes are. That's basic econ.

[Kidlicious]

Btw, China has been running a deficit for a very long time.

[Dinner]

At least, I guess, this is how Trump or one of his PR team would formulate it.

They would, however, forget to mention that 41 other top ecoonomist believe the contrary

The University of Chicago’s Booth School of Business regularly runs a survey among a group o selected op business scientists (many of whom are nobel price winners or WH veterans).
This time the survey as about the GOP tax reform and wether it will help the US economy or not.

As mentioned before, 41 of the 42 top business scientists (who answered the survey) answered that the tax reform won't hhelp the US economy.
Only one of them answered positively.

https://www.vox.com/policy-and-politics/2017/11/22/16691016/economists-gop-tax-plan-igm-poll

The hilarious part is that one economist who supported the Republican debt fueled giveaway to the rich... Yeah, he changed his vote to saying it was bad. His excuse was that he misread the question. So it is a perfect 42 out of 42 top economists who say the Republican bill is bad for the economy and will only load us up on still more debt.

[Dinner]

I don't have the time to research this, but I would not be surprised if the only likeness that Trumps tax reform has with the tax cuts of the years mentioned is, that both are tax cuts

Actually the house Republican bill raises taxes on most people making $100,000 a year or less so it can give away tax breaks to the rich and to corporations.

[Proteus_MST]

They might be saying that the Tax cuts won't pay for themselves, which is a claim that every tax cutter politician makes. Massive tax cuts grow the economy. It doesn't even matter what those taxes are. That's basic econ.

I prefer the advanced economics that the top economists use over the basic ecnomics that Trump teaches, any time

Here are some of their comments on that matter (from the article I linked in the OP):

A number of the economists argued that tax policy simply isn’t as powerful a lever as Republicans want to believe. “Tax policy appears to have little effect at the margin on GDP growth in OECD countries,” wrote MIT’s David Autor, an eminent trade economist. “Doubt it will substantially change things either way,” wrote the University of Chicago’s Anil Kashyap. “Aside from the redistribution of wealth, hard to see this changing much,” wrote Richard Thaler, who just won the Nobel Prize in economics.

And here is, for example, what happened after Bushs jrs tax reduction:

The theory was that by making it more lucrative to invest in American businesses, they would boost business investment in the United States — making our country home to more factories and offices, driving job creation, and pushing up wages.

What happened instead was a weak, highly inegalitarian period of economic growth that was associated with the drift of America’s manufacturing base overseas and an unsustainable debt-financed boom in house building.

Source:
https://www.vox.com/policy-and-polit...ump-tax-is-bad

[Proteus_MST]

The hilarious part is that one economist who supported the Republican debt fueled giveaway to the rich... Yeah, he changed his vote to saying it was bad. His excuse was that he misread the question. So it is a perfect 42 out of 42 top economists who say the Republican bill is bad for the economy and will only load us up on still more debt.

I hope so ... for him ... sounded like he got lot a of comments from other economists, that doubted hs credibility, after they heard from his choice in the survey

Actually the house Republican bill raises taxes on most people making $100,000 a year or less so it can give away tax breaks to the rich and to corporations.

Yep ... the programs that the GOP use to mask the tax increases foor the middle class (and making it appear as if a middle class family will pay less) are time limited ...
the tax increases on the middle class and the tax reductions on the rich however re permanent -> tax increases for the middle class