A top economic adviser to Republican presidential candidate Donald Trump said his policies would generate a surplus of as much as $7 trillion in a decade.
In a sometimes bewildering explanation of Trump’s agenda, Sam Clovis said Wednesday that increased economic growth would cover the vast majority of the cost of his plans, including a tax reform plan projected to cost $10 trillion over 10 years.
“Our proposals, what we think will happen, will lead us in fact to about a $4.5 to $7 trillion surplus at the end of 10 years, if all of our initiatives are put in place,” Clovis told a conference sponsored by the Peter G. Peterson Foundation. “Growth helps us a tremendous amount.”
Clovis is national co-chair and chief policy adviser for Donald Trump's presidential campaign. He is also a professor of economics at Morningside College in Iowa and has failed in campaigns for the U.S. Senate and to be Iowa state treasurer.
http://www.politico.com/story/2016/05/donald-trump-economic-adviser-tax-plan-sam-clovis-223086
Trump Aide Claims $7 Trillion Budget Surplus After 10 Years
Discussion in 'Political Debate & Discussion' started by InTheLight, May 11, 2016.
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InTheLight Well-Known MemberSite Supporter
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InTheLight Well-Known MemberSite Supporter
No comments on this guys ridiculous claims? It's absolutely unachievable. I suppose Trumpies just clap their hands and order another "Make America Great Again" hat.
Here's some reality.
The Congressional Budget Office estimates that deficits will total another $9.4 trillion during this period. So Trump is purporting to pay for his $10 trillion tax cut, plus eliminate that additional deficit, plus amass a surplus amounting to several trillion more? Outlandish is too kind a word for this.
How outlandish? Former Congressional Budget Office director Douglas Holtz-Eakin, president of the conservative American Action Forum, estimated it would require a mere 10 percent annual growth for the decade.
https://www.washingtonpost.com/blog...hpid=hp_no-name_opinion-card-e:homepage/story -
You want comments? Well, at least the WaPo actually knew the difference between the debt and the deficit but Leftico didn't:
Trump’s current tax reform plan is projected to add $10 trillion to the debt over the next decade, on top of the $9 trillion in deficits the government is already projected to run.
But from the source:
The plan would also be a large tax cut, which would increase the federal government’s deficit by over $10 trillion, both on a static and dynamic basis.
http://taxfoundation.org/article/details-and-analysis-donald-trump-s-tax-plan
Old, old left-wing trick:
http://www.politifact.com/truth-o-meter/article/2014/feb/27/debt-vs-deficit-whats-difference/
Now, about the WaPo writer, she is probably right that a GDP of 10%+ is waaaaaaaay too rosy and the tax cuts would have to be massive to get that number. But I'm still waiting on these people to dissect Hillary's economic plan - better yet, Bernie's. -
We could sell the Hawaiian Island Chain to the highest bidder, probably Japan.
HankD -
InTheLight Well-Known MemberSite Supporter
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Another possibility is that Trump could issue an executive order to the US Treasury to print 26 trillion dollars and pay it off with 7 trillion to spare.
HankD