Mnuchin: Tax plan will cut deficits by $1 trillion
Family Guy-What a Croc
https://www.youtube.com/watch?time_continue=2...-fMzDcW_UA
Source: The Hill
BY NIV ELIS - 09/28/17 12:34 PM EDT
The tax cuts proposed by Republicans and the White House will stimulate enough economic growth to overcome expected deficits, Treasury Secretary Steve Mnuchin said Thursday.
“We think there will be $2 trillion of growth. So we think this tax plan will cut down the deficits by a trillion dollars. That's a large number,” he said in an interview on Fox Business Network’s "Mornings with Maria."
The impact of the tax cuts on the deficit are a major hurdle for Republicans as the seek to pass a tax overhaul. The framework released Wednesday for the bill is already drawing criticism from Democrats and ruffling feathers among fiscal conservatives in the party.
While many economists agree that tax cuts stimulate the economy, there is skepticism that whether revenues from extra economic growth would produce enough tax revenue to pay for the cuts.
The Center for a Responsible Federal Budget has estimated that the GOP's tax proposal would add $2.2 trillion to the deficit.
Read more:
http://thehill.com/policy/finance/352887-mnuc...1-trillion
14. HS....then we should be swimming in CASH in Kansas with the 0% tax bracket for Corporations..
Instead we have a budget shortfall of about $900 MILLION that's been adding up since Jan 2013 when REPUBLICANS in the Kansas House and Senate passed this tissue of LIES into law. Gov Brokeback is like Trump and so delusional he'll still claim it worked.
LUCKILY in the last election we got those Republican hardliners OUT and that 0% has been repealed back to the 2012 tax rate which is about 5%-6%. Revenue will start to flow back but it will take YEARS to undo the damage that Brownback and Republicans caused here.
TINKLE DOWN will NEVER work,it's been proven not to over and over and over............
18. Somebody please pnuch him in the face!!!
Mnuchin. The guy with the pnuchable face.
5. I work for $9 an hour as a convenience store clerk and I think I like this idea.
My biggest concern is the rich are taxed too much, and if a rich person tells me that I will do better if they are taxed less, than why not give it a try?
We did...for many years, and it turns out, it doesnt work, has never worked.
The ONLY tax cut that stimulates the economy is for people who will instantly spend every penny of the cut. I.E. lower middle class , pretty much all other tax cuts do the OPPOSITE.
