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Economists skeptical of GOP claims
Posted on: November 21, 2017 at 15:30:39 CT
Knucklehead MU
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Although the poll question was vague. This is interesting.
Appears to be in line with the Tax Policy Center estimate of a small increase in growth resulting from tax plans.
"Just one economist who responded to a new survey believes U.S. gross domestic product will be higher in 10 years if a tax bill like the one congressional Republicans and the White House are pushing is enacted.
The Initiative on Global Markets at the University of Chicago’s Booth School of Business asked 42 economists if they agreed or disagreed that GDP would be “substantially higher” in 10 years than under the status quo. Of those 42, only Darrell Duffie of Stanford University said he agreed. A reduced corporate tax is likely to grow GDP, he said.
Most others — 22 economists — disagreed. Fifteen said they were uncertain and four didn’t answer.
President Donald Trump and Republicans in Congress are promoting the tax bill as a boon for the economy and workers. A recent White House report foresaw a boost to the economy of as many as five percentage points from the tax plan.
Duffie also said it was “another matter” whether the overall plan is distributionally fair. "
https://www.marke****ch.com/story/only-one-out-of-42-economists-say-corporate-tax-cuts-will-lead-to-big-boost-to-gdp-2017-11-21
Edited by Knucklehead at 15:33:02 on 11/21/17
Appears to be in line with the Tax Policy Center estimate of a small increase in growth resulting from tax plans.
"Just one economist who responded to a new survey believes U.S. gross domestic product will be higher in 10 years if a tax bill like the one congressional Republicans and the White House are pushing is enacted.
The Initiative on Global Markets at the University of Chicago’s Booth School of Business asked 42 economists if they agreed or disagreed that GDP would be “substantially higher” in 10 years than under the status quo. Of those 42, only Darrell Duffie of Stanford University said he agreed. A reduced corporate tax is likely to grow GDP, he said.
Most others — 22 economists — disagreed. Fifteen said they were uncertain and four didn’t answer.
President Donald Trump and Republicans in Congress are promoting the tax bill as a boon for the economy and workers. A recent White House report foresaw a boost to the economy of as many as five percentage points from the tax plan.
Duffie also said it was “another matter” whether the overall plan is distributionally fair. "
https://www.marke****ch.com/story/only-one-out-of-42-economists-say-corporate-tax-cuts-will-lead-to-big-boost-to-gdp-2017-11-21
Edited by Knucklehead at 15:33:02 on 11/21/17
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Economists skeptical of GOP claims - Knucklehead MU - 11/21 15:30:39