berg80
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- Oct 28, 2017
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Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.
The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.
The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.
But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html
Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.
Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.
The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.
The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.
But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html
Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.
Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.
