<"Seen This Movie Before": The Highwayman>
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Is Trump's tax plan a scam? Let's put it this way: I''ll cite one of my favorite recent factoids from Vanity Fair. For Republican magical thinking to work -- splendiforous results occur, and don't blow up the deficit -- the U.S. economy would have to grow at five percent, per year, over 10 years, "in line with emerging economic powerhouses China and India," Vanity Fair reports. "Guess what sports fans? That’s not happening, especially in an economy that has already supposedly been benefiting from absurdly low interest rates for close to a decade, and that is already at or near structural full employment."
I'd call that a fair statement. In contrast, the Federal Reserve's median forecast for growth is 1.8 percent -- which sounds a tad more realistic, given what we've seen lately -- while the Congressional Budget office foresees the dueling U.S. House/Senate versions add, at best, a tenth of a percentage point to growth, "bringing us to a whopping 1.9 percent," according to Catherine Rampell, of the Washington Post.
We'll see soon enough what emerges from behind closed doors, which is why I've held off on commenting -- this is the bunch, remember, that cobbled together four increasingly poor health bills -- but, by and large, the public isn't buying this particular scheme...as our latest guest cartoon from my good friend, The Highwayman, makes abundantly clear. --The Reckoner
Links To Go (Hurry, Before The Trumpkins
Vacuum What's Left Of Your Cash Flow):
Atlantic: Why The GOP Tax Bill Is So Unpopular:
https://www.theatlantic.com/business/archive/2017/11/gop-tax-bill-unpopular/546668/
Politico.com: GOP Deficit Hawks Fear
Tax Plan Is Secret Budget-Buster:
https://www.politico.com/story/2017/11/24/republicans-tax-reform-plan-deficit-cost-257604
Vanity Fair: It's A Ponzi Scheme: Wall Street
Fears Trump's Deranged Tax Plan
Could Kick Off Economic Euthanasia:
https://www.vanityfair.com/news/2017/11/wall-street-fears-trumps-deranged-tax-plan-could-kick-off-economic-euthanasia
I'd call that a fair statement. In contrast, the Federal Reserve's median forecast for growth is 1.8 percent -- which sounds a tad more realistic, given what we've seen lately -- while the Congressional Budget office foresees the dueling U.S. House/Senate versions add, at best, a tenth of a percentage point to growth, "bringing us to a whopping 1.9 percent," according to Catherine Rampell, of the Washington Post.
We'll see soon enough what emerges from behind closed doors, which is why I've held off on commenting -- this is the bunch, remember, that cobbled together four increasingly poor health bills -- but, by and large, the public isn't buying this particular scheme...as our latest guest cartoon from my good friend, The Highwayman, makes abundantly clear. --The Reckoner
Links To Go (Hurry, Before The Trumpkins
Vacuum What's Left Of Your Cash Flow):
Atlantic: Why The GOP Tax Bill Is So Unpopular:
https://www.theatlantic.com/business/archive/2017/11/gop-tax-bill-unpopular/546668/
Politico.com: GOP Deficit Hawks Fear
Tax Plan Is Secret Budget-Buster:
https://www.politico.com/story/2017/11/24/republicans-tax-reform-plan-deficit-cost-257604
Vanity Fair: It's A Ponzi Scheme: Wall Street
Fears Trump's Deranged Tax Plan
Could Kick Off Economic Euthanasia:
https://www.vanityfair.com/news/2017/11/wall-street-fears-trumps-deranged-tax-plan-could-kick-off-economic-euthanasia
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