Trump's Budget Doesn't Double Count. It Actually Hides Higher Taxes - News Summed Up

Trump's Budget Doesn't Double Count. It Actually Hides Higher Taxes


There's been talk that Trump's budget is double-counting some figures to arrive where it does. You can’t use the growth benefits of tax cuts once to justify an optimistic baseline and then again to claim that the tax cuts do not cost revenue. And it's clear that "additional revenue" can't both replace what you had taken out and count as an incremental increase. Some other new revenue would come from eliminating certain tax breaks, although he would not specify which ones. "The plan will pay for itself with growth," Mnuchin said at an event hosted by the Institute of International Finance.


Source: Forbes May 24, 2017 19:07 UTC



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