Taxes

After Pushback, Trump Advisers Say Harvard Economists Got Their Own Paper Wrong

JM Ashby
Written by JM Ashby

Remember the Trump regime's fantastical claim that cutting taxes for corporations and the rich will send wages soaring?

That claim was partially based on a study written by a group of economists at Harvard University, but one of the men behind the study says the White House got it wrong.

Mr. Trump’s Council of Economic Advisers said in a report released on Monday that reducing corporate taxes could raise average household incomes by as much as $9,000 a year. The top end of that estimate was based on work by a trio of researchers, and on Tuesday one of them, Mihir Desai of Harvard, said Mr. Trump’s team had misread the research. The actual income gain implied by his study, he estimated, would be $800.

Mr. Trump’s economic team disagreed — saying Mr. Desai had erred in interpreting his own paper.

It's a bold move telling a group of economists at Harvard that they drew the wrong conclusions from their own goddamn research paper.

CNN has released a new poll that found a majority of Americans oppose Trump's tax cuts for the rich. The poll also found that only 24 percent of Americans believe the tax cuts will personally benefit them or their family.

I don't think the GOP's standard tax cut rhetoric is going to work as well in 2017 as it did when George W. Bush cut taxes. That doesn't necessarily mean they won't be able to pass something, but whatever they pass will not be popular with the public.

  • Christopher Foxx

    but whatever they pass will not be popular with the public

    To which the Republican response is “So? We don’t work for them.”

  • Stop the planet, I want to get off.

  • Georgie
    • gescove

      Probably left by Drumpf himself posing as John Miller or John Barron.

      • Aynwrong

        I don’t know…

      • Christopher Foxx

        Exactly what I thought. The message was probably left by “John Miller”.

  • Aynwrong

    Polls have been showing that a majority of Americans agree with liberal positions such as not wanting to cut taxes for the wealthiest for some time now. Polls also show that a majority support unions, both private and public and support stricter gun regulations. Yet we’ve seen that this doesn’t change the voting habits of millions R’s.

    At this point, it all feels cultural (for lack of a better term). R voters would toss themselves off a cliff before admitting that the dirty, dirty libtards were right about anything. Especially about the fact that R’s have been wrong about most everything.

    • Christopher Foxx

      “Because it will frustrate and pissoff liberals” is one of the top motivations for Republican voters. They have no interest in electing people who are will actually help make things better for themselves. Not compared to that eagerness to, I dunno, prove? something to liberals.

      They have the “It’s not enough that I win, you must lose” mindset, with most of the emphasis in the latter part.

  • Badgerite

    As long as the voters, left and right, remember that coming time to vote, that’s fine. It is about accountability to the public as opposed to those who line their pockets.

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