Taxes

‘We knew we wouldn’t get 5 percent growth’

JM Ashby
Written by JM Ashby

Congressional Republicans and the Trump White House said many fantastical things to justify their $1.5 trillion package of tax cuts for corporations and wealthy shareholders, such as the lofty prediction that it would lead to permanent, sky-high economic growth.

At least one former Trump adviser responsible for writing the talking points that Republicans used to sell their tax cuts says they knew we wouldn't see growth like that.

They were just lying, you see.

President Donald Trump is an "exaggerator" who knew his policies wouldn't generate the 5% growth he had promised while campaigning, according to Stephen Moore, who served as a campaign advisor to Trump and was a prospective Fed nominee. [...]

"I think Trump is an exaggerator, and I think it gets him in trouble," Moore later says. "It's like he said we're going to get 5% growth. We knew we weren't going to get 5% growth."

Moore was part of the economic team that put together the president's growth package.

We knew the GOP's tax cuts wouldn't lead to runaway economic growth, of course, but I suppose this helpfully confirms that they also knew that.

Republicans do drink their own Kool-aid and believe their own rhetoric about macroeconomics to some extent, but to an even bigger extent they're just liars who will say almost anything in their efforts to redistribute even more wealth to people who are already the richest people in the world.

The point of this post is not to point out that Republicans are liars because we already knew that. The point is to enter this into our little record of examples Democrats need to pull out when it's time to either roll back or replace the Trump tax cuts. The tax cuts were never going to deliver and the people who wrote them knew it.

  • mnpollio

    The question is: Will their supporters/enablers ever admit to having been taken by these charlatans or will they blindly keep voting for them to keep them in charge at the levels of power? I have heard every excuse in the books that these people trot out to continue to vote for them (i.e., “Dad always voted Republican”, “I hate liberals”, “I will be rich someday and benefit from this stuff,” “…But her e-mails!” and “Benghazi, Benghazi, Benghazi…BOO!”), so I have my doubts the light will ever go on over their heads.

  • muselet

    If Stephen Moore and the rest of the “economic team” that coughed up the Trump economic plan knew Donald Trump was … erm … exaggerating about economic growth, why didn’t they quietly point that out during the campaign instead of enthusiastically repeating the claim?

    In the case of Moore, I’m sure he really, truly, in his heart of hearts believed every word of it. He’s only backing away now because he correctly thinks he’s going to get tarred with the Trump Recession brush, and that will make it harder to get yet another position at yet another Righty/glibertarian think tank. Moore is a terrible economist, but he has great instincts for self-preservation.

    I wouldn’t call Rs liars, exactly. They simply know less than nothing about economics, having been tutored in the subject by the clownshoes at Cato, Heritage and the Club for Growth. It is, I admit, a subtle distinction.

    –alopecia

    • stacib23

      You won’t call Republicans liars. Okay, since I really like your posts (and you’re much nicer than I am), I’ll do it for you. They are a party of lying liars who lie while taking hypocrisy to levels never seen before.

      • muselet

        Don’t get me wrong, I want to call them liars.

        The problem is, the definition of lie is “an intentionally false statement,” and I don’t think many of them are fully aware that what they say isn’t true. Again, I’m making a very fine distinction.

        –alopecia

        • Christopher Foxx

          Many of them willfully refuse to see the truth. So they may have convinced themselves to believe what they actually say. But it’s still a conscious choice on their part to believe what they know is untrue.