Monday, May 1, 2017

Stockman: Trump's Tax Plan is Dead BEFORE Arrival

David Stockman, former director of the Office of Management and Budget, is correct in his observations below.

Without a massive cut in government spending (which isn't going to occur), Trump's tax plan makes no sense. I expect a revised plan to eventually emerge that will cut down on the tax cuts in the current proposal (bye, bye 15% tax rate for pass-throughs) that will include hidden tax increases and an exploding budget deficit.

Whether you pull money out of the private sector of the economy via hidden tax increases or budget deficits, it still amounts to one thing, money going from consumers, businessmen and entrepreneurs into the hands of bureaucrats, politicians and the Deep State.


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