White House Council of Economic Advisers Chairman Kevin Hassett ripped Nobel laureate economist Paul Krugman after he slammed President Trump’s tax cuts.
Krugman told CNN on Wednesday the Republican tax cuts are turning out to be a “nothing burger” and are not energizing the economy.
But Hasset said the sweeping overhaul of the U.S. tax code is leading to solid wage growth and capital spending.
“It’s just completely false,” Hassett told FOX Business’ Stuart Varney on “Varney & Co.” on Friday.
“He really, really just goes around making partisan points all the time and I can’t remember the last time I saw him make an analysis of something like the tax cut that made any sense,” he added.
They both fail to address the elephant in President Trump's tax cut room.
Without a cut in government spending, the tax cuts just mean that the point of drain from the private sector will change. The money will come out of the private sector and placed in government coffers via Treasury deficit spending. In other words, the tax cuts are a macro-economic scam.
As far as the point that Krugman does nothing but make partisan commentary, this is true but he doesn't come close to the partisan commentary of Baghdad Hassett.
-Robert Wenzel
(via FOX Business)
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