Page 2 - Growth Effect News Today

The employers side of the payroll tax is passed on to workers. to get back to kevins point, this isnt a job creations bill. what kevin is talking about is long term supply side and growth effect. weve got 25 million underemployed americans and youre not going to see a change in the unemployment rate because of this. we have a huge aggregate demand problem and the economy is running a trillion dollars below potential aeliminating taxes on capital gains isnt going to change that next year. youre n...

Easy questions. is that a good idea? >> well, if you think that it is vital that the deficit not go up more than expected, yes, it is a good idea. but there is very good reason to think deficit will go up more than expected. theres pushback. we heard some of it in the last hour. grover norquist, people like that complaining. and theres one wild card that has been thrown into this equation today. that the joint committee on taxation, the official score keeper of congress, which the republican lea...

Effect. this is how he answered. >> i think it makes no sense, and people who quote that, i think, are living in the stone ages. were about creating economic growth. were about broadening the base and we are going to make sure that this is tax reform, not just tax cuts and that theyre paid for. david: steve, i love it. he says theyre living in a stone age if they dont believe theres a growth effect. >> absolutely, david. the key thing is, for those who obsess about this stuff. the key is to have...

>> its a great plan. its going to put people back to work. >> i find it fascinating that blowing this gigantic hole in the debt is not an issue anymore. >> he is the king of debt, and now were seeing it in realtime. >> t >> the people who will get a gigantic tax cut are corporations and very wealthy people, people like donald trump. >> will the president release his tax returns -- >> the president has no intention. the president has released plenty of information. >> ha! boy, has he got his talk...

Im surprised it didnt come on a napkin at this point. >> we will let you know the specific details at the appropriate moment. >> one could argue the roll-out of the plan was supposed to be the appropriate moment that you would have some of these details. >> its a great plan. its going to put people back to work. >> i find it fascinating that blowing this gigantic hole in the debt is not an issue anymore. >> he is the king of debt, and now were seeing it in realtime. >> the people who will get a ...

Speak with you. i want to switch gears to business. you say youre going to lower the marginal rates. my question s how do you do that and still manage to balance the budget? >> thats the rub always. the answer is, by lowering marginal rates across the board, well have two things we also do. one is to limit the deductions and exemptions that exist for particularly for people at the high end of the income spectrum so that one may maintain progressive in the code and keeping the revenue coming in b...

Speak with you. i want to switch gears to business. you say youre going to lower the marginal rates. my question s how do you do that and still manage to balance the budget? >> thats the rub always. the answer is, by lowering marginal rates across the board, well have two things we also do. one is to limit the deductions and exemptions that exist for particularly for people at the high end of the income spectrum so that one may maintain progressive in the code and keeping the revenue coming in b...

Is with us. >> first off its a pleasure to speak to you. i want to switch gears to business a little bit. you say you are going to lower the marginal rate how do you do that and still manage to balance the budget. >> thats the rub always. the answer is by lowering marginal rates across the board we will have two things we also do. one is to limit the reductions and exemptions for people at the high end of the income spectrum so we maintain progress civet in the code and we are keeping the revenu...

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