Bogus! Nobel Prize-winner on Trump's tax plan: "Lies, Lies, Lies, Lies..."

Because...
Sometimes you feel like a socialist,
Sometimes you don't.

barfo

 

Because VA isn’t socialist.

 

I am curious where all the uproar about the deficit went. I seem to remember certain posters here acting like it was the most or only important thing in the world. Now... crickets.

barfo

 

There’s been no actual deficit increase. Obama’s last budget left us a $650B+ deficit. Next year is on Trump and the republicans.

You’re making it seem like the spending is increased by $150B a year for the next ten. Tax cuts aren’t spending, its just not taxing at as onerous a rate.

If the economy grows, the tax cuts will be neutral at worst. So far, CBO has been off in its projections.

Obama increased spending by $800B in his first year alone, and $8Trillion over 10 years.

 

Correct so far. Nothing has actually happened yet. Was discussing the proposed budget/tax cut plan. Do you always wait until something becomes law before you criticize it? I don't think so...

I said literally nothing of the sort.

Tax cuts aren't jellyfish or bagels, either. So...

No, that math doesn't add up. That's only true if the economy grows enough to offset the tax cuts. Which is unlikely.

Predictions are hard, especially about the future.

barfo

 

The budget calls for $4T in spending. Zero change from last year.

The rest of your criticism is based on astrology.

 

Spending is not the same as the deficit.

Why are you no longer interested in deficits? That used to be your #1 pet peeve. Now you just try to change the subject.

barfo

 

I am interested in deficits. When there is an actual one bigger than $666B, he's raised it.

All the rest is your speculation, and like I said, astrology. You're predicting the future, which you have already said, "Predictions are hard, especially about the future."

 

We really need to see what the final tax reform bill looks like before rushing to a Krugman like (bogus) judgment.

In the mean time...

http://www.washingtonexaminer.com/o...es-middle-class-single-digits/article/2638746

OMB: Top 20% pay 95% of taxes, middle class 'single digits'

 

CBO won't score Trump administration projections using 3% GDP growth. The administration's projections show diminishing deficits and balanced budget at about 10 years. CBO says 3% growth is unrealistic (thanks Obama for the new normal!).

Trump thinks more than 3% is possible if not likely.

This latest GDP figure includes all the loss of jobs and productivity in hurricane ravaged areas of Texas and Florida.

https://www.cnbc.com/2017/10/27/fir...rcent-vs-2-point-5-percent-rise-expected.html

First reading on third-quarter GDP up 3.0%, vs 2.5% rise expected

• The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter.
• An increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction.
• Gross domestic product increased at a 3.0 percent annual rate in the July-September period after expanding at a 3.1 percent pace in the second quarter.

 

Trump thinks? That's optimistic at best.

As for the GDP, the last time GDP growth was 3% for a full year was 2005. So thanks Bush for the new normal!

barfo

 

Yes, Trump promises as much as 6% GDP growth, but for his balanced budget projections they used 3%, and CBO used like 2%.