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Thread: Donald Trump keeps moving the goal post for economic growth

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    Donald Trump keeps moving the goal post for economic growth

    By Ylan Q. Mui December 29 at 5:07 PM

    How great will America be under President Donald Trump? It depends on when you ask.

    During the election, Trump pledged that he would oversee a rate of “tremendous” economic expansion as high as 6 percent. But he has moved the goal post several times since then, dialing back expectations.

    snip

    September 2015
    Trump released the initial version of his plan to overhaul the nation’s tax code, during a news conference at Trump Tower in New York. His proposal slashed the corporate tax rate from 35 percent to 15 percent and collapsed individual tax rates into three brackets, with the highest rate falling from 39.5 percent to 25 percent.

    During the news conference, Trump gave this forecast of how much his tax plan would boost growth:

    “We're looking at a 3 percent, but we think it could be 5, it could even be 6. We're going to have growth that will be tremendous.”

    Let’s dissect that for a moment. Trump first suggested that the impact of his tax plan — which the nonpartisan Tax Policy Center estimated would cost a whopping $10 trillion over the next decade — would boost growth only modestly to 3 percent. But he then dismissed that estimate as too low and provided another forecast of double that amount.

    https://www.washingtonpost.com/news/...=.dec2e7e667cc
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    Trump sounds clueless.
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    "Mr. Original". the watchman's Avatar
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    why should we trust a man that refuses to release his tax returns to reform the tax code?
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    olguy OlGuy's Avatar
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    The economy is headed for the cliff no matter who is President.

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    Quote Originally Posted by labrea View Post
    Trump sounds clueless.
    Plus there is the pathological liar angle.
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    Member BitterPill's Avatar
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    Quote Originally Posted by OlGuy View Post
    The economy is headed for the cliff no matter who is President.
    So you are resigned to swallowing Trump's lies.

    Sadly, most of us already knew that.

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    Shut up and chew Addiction Solitaire Champion, Double Deuce Champion, Queen Jewels Champion, Ray Ray Shuffle Champion, Twins Champion, Blow Up: Arcade Champion, Bunch - Time Trial Champion, Znax Champion, Zoo Keeper Champion, Sobics School Champion, Swap a Smiley Champion, Makos Champion, Dino Drop Champion, Flower Frenzy Champion, Some Puzzle Champion, Funny Bubbles Champion, CubeZ Champion, Dinky Smash Champion, Fun Fun Animals Champion, Fruit Fabriek Champion, Raft Wars Champion, Rainbow Monkey RunDown Champion, Raft Wars Champion, Crime Puzzle Champion Blueneck's Avatar
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    Lowering taxes doesn't increase growth. We did this already and it doesn't work.
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    Proud deplorable Bigot Outdraw Poker Champion, Colinks :Swap Champion
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    Quote Originally Posted by Blueneck View Post
    Lowering taxes doesn't increase growth. We did this already and it doesn't work.
    I would agree that in and of itself, it does not produce growth. However, it does put more money into pockets which could increase demand, if the confidence to spend is there. If people have more money, confidence is high, there is a favorable corporate environment and a government that doesn't penalize success, increased wages due to less low-cost workers, more favorable trade agreements, etc......I can definitely see growth.

    But you are right, I agree that the simple act of lowering taxes will not provide much growth.

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    Quote Originally Posted by metheron View Post
    I would agree that in and of itself, it does not produce growth. However, it does put more money into pockets which could increase demand, if the confidence to spend is there. If people have more money, confidence is high, there is a favorable corporate environment and a government that doesn't penalize success, increased wages due to less low-cost workers, more favorable trade agreements, etc......I can definitely see growth.

    But you are right, I agree that the simple act of lowering taxes will not provide much growth.
    Are you predicting lower and middle class wages are going to rise significantly under a Trump economic plan? When has "trickle down" ever raised wages for workers?
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    Southern Strategy Liberal OldGaffer's Avatar
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    Which plan would raise wages more for the working class, a 12 buck minimum wage or a "trickle down" massive tax cut for billionaires?
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