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Out of 42 top economists, only 1 believes the GOP tax bills would help the economy


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But all of them think it will increase the debt.

 

The University of Chicago’s Booth School of Business runs an ongoing survey of top economists spanning a wide number of specialties and political outlooks. The panel includes multiple Nobel Prize winners, White House veterans, and former presidents of the American Economic Association. Recently, they were asked about the Republican tax reform bills. The results weren’t encouraging.

 

The first question was straightforward. Would they agree that if the US passed a tax bill “similar to those currently moving through the House and Senate,” GDP would be “substantially higher a decade from now”? Of the 42 economists polled, only one thought the Republican bill would boost the economy. The plurality said it wouldn’t, and the remainder were uncertain or didn’t answer.

 

The survey includes an optional space for respondents to add a comment, and a few of the comments are notable. “Of course not,” wrote the University of Chicago’s Austan Goolsbee, who served as chief economist for President Obama. “Does anyone care about actual evidence anymore?”

 

The only economist to say the bill would increase GDP was Stanford’s Darrell Duffie, and he added the concern: “Whether the overall tax plan is distributionally fair is another matter.”

 

The second question asked whether passage of the Republican tax bills would mean “the US debt-to-GDP ratio will be substantially higher a decade from now than under the status quo.” Here, too, the news was grim from Republicans. In this case, all but one economist agreed that the bills would blow up the deficit, and the outlier, Stanford's Liran Einav, turned out to have misread the question — he later clarified that he also agrees the bill would add to the debt.

 

 

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This country has been there before and it didn't work so why do they think it will work this time. Oh I know the answer. They just want the upper crust to get richer and the middle class and the poor can go f_uck themselves

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6 minutes ago, Arris said:

This country has been there before and it didn't work so why do they think it will work this time. Oh I know the answer. They just want the upper crust to get richer and the middle class and the poor can go f_uck themselves

 

BINGO!

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13 minutes ago, Arris said:

This country has been there before and it didn't work so why do they think it will work this time. Oh I know the answer. They just want the upper crust to get richer and the middle class and the poor can go f_uck themselves

And they want to point at something, anything, they actually accomplished.

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