Trump Tax Cuts Won't Power Growth He Promised

[DonViejo]

March 20, 2019 at 7:01 am EDT By Taegan Goddard

“The Trump administration pushed a $1.5 trillion tax cut through Congress in 2017 on the promise that it would spark sustained economic growth. While the tax cuts have goosed the economy in the short term, officials now concede they will not be enough to deliver the 3 percent annual growth the president promised over the long term,” the New York Times reports.

“To produce that average growth rate for the next decade, White House forecasters say, the American economy would need additional rollbacks in labor regulations, a $1 trillion infrastructure plan and another round of tax cuts.”

“Getting all those policies implemented would be highly unlikely, given a divided Congress and a ballooning federal deficit, which could limit lawmakers’ appetite to spend money on a new tax cut or infrastructure plan.”

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https://politicalwire.com/2019/03/20/trump-tax-cuts-wont-power-growth-he-promised/

[Maxheader]

1. If that had been the 2018 congress..

the 1%ers would have never gotten that gift...

And of course it won't support growth...none of the trickle downs ever has...

The rich cats upgraded their yachts...

[democratisphere]

3. And added another 10% to the national debt to fund the tax cuts

for the predator wealthiest.

[Shell_Seas]

2. You don't say...

[world wide wally]

4. I'm sure the GOP wants to eliminate the minimum wage to spur job growth as well

[PeeJ52]

5. An infrastructure bill would have had this economy booming for 20 years.

of course that might have given rise to union labor so they couldn't do that. Imagine all that money in the hands of working people to spend though. Engineering companies could hire people. Construction workers could buy new houses and cars. House flippers could flip. We might never come down if they would pass an infrastructure bill. But no, there might be union workers getting involved.

[watoos]

8. People need to know what the Republican infrastructure bill is.

They give it a fancy name that makes it sound good. Here is an example; A bridge needs repaired or a new one built. The taxpayer foots 90% of the cost and the developer foots 10% of the cost. When the bridge is built the developer owns it, he can make it a toll bridge if he wants. Down the road when the bridge needs repaired the developer can just walk away.

That's the Republican's infrastructure plan, something like how we build stadiums and arenas.

[PeeJ52]

10. Yeah, that's not an infrastructure bill. That's socialism for the rich. No, that's fascism.

[procon]

6. Wiser heads than Trump's nodding yes-men warned this would happen.

Trump need to have his nose rubbed in his failure, reminding the American people that his ignorance and lies are hurting the whole country.

[watoos]

7. First of all, I'm 71 years old, but,

I remember Trump promising 4%,5%, 6& growth from his tax cuts. His White House has projected 2.9% growth, but the CBO which is the standard bearer projects 1.9% growth.

I am stupid in economics, but if this is what we get with capitalism, if our Democratic candidates have to take a pledge to embrace capitalism or risk being called Socialists, frankly I would risk being called Socialists.

Back when we had 3 Republican presidents Harding, Coolidge, Hoover, we had the roaring 20's, for a while. They cut taxes on the rich, they didn't call it trickle down economics they called it "Horse and Sparrow" economics. Feed the horse more oats and the sparrows will have more seed to eat from his shit.

A Socialist president was elected, for 4 terms. He promised a second Bill of Rights for workers. He said that we can't have peace if people are without jobs so he formed the CCC and WPA "government" projects. People can't have peace without health care so Democratic presidents created Medicare, Medicaid and Obamacare. People can't have peace if they are hungry, Democratic presidents created food programs and food stamps.

Senior citizens like me who have worked hard all of all lives only want to be able to retire with dignity, it was Democratic presidents who created Social Security.

The new Trump budget proposes giving more tax breaks to the rich, more oats to the horse, while gutting SS, Medicare, and Medicaid.

Propaganda is wonderful for the greedy, rich, tax dollars that go to the poor is called Socialism, while tax dollars that go to the rich is called capitalism, people who believe that will always be content to be sparrows.

[maxrandb]

9. I'm a decade behind you

but, this is all a part of "moving the goalposts".

You're absolutely correct. Donnie Shit for Brains "promised" 5, 6, or ever higher sustained growth". This article, by "coyly" ignoring the bloviating blowhards bragging of 6% growth, lowers the bar.

See, the economy growing at 2% when you predicted 3%, is not as bad as the economy growing at 1.5% when you predicted 6%.

See also, the media failing to remind America that "Mexico is going to pay for the Wall".

Walter Cronkite is spinning in his grave.