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Trump's own economists now agree: GOP tax cuts are failing to spark growth

1 299 1409
22.03.2019

President Trump’s hand-picked Federal Reserve chairman and White House economic advisers admitted this week that the Republican tax cuts are failing to deliver the economic growth the president promised.

Trump repeatedly claimed that the Republicans' $1.5 trillion tax cut primarily aimed at corporations and the rich would pay for itself with annual economic growth above 3 percent. Trump went as far as to claiming the cuts might lead to a GDP growth of 6 percent.

Trump’s White House Council of Economic Advisers (CEA) released an analysis in 2017 showing that slashing corporate taxes by 15 percent would lead to GDP growth of 3 to 5 percent.

On Tuesday, the CEA released a revised report showing that the economic gains will fall far short of their initial........

© Salon