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Wednesday, November 29, 2017

Magic downturn

If we don't need a "trigger" because the magic tax cuts will bring us super awesome growth, then why are they so worried about it?
It’s not clear what exactly GOP leaders promised Corker, who declined to share specifics with reporters. He said the amendment will be included in an updated version of the bill that is likely to be released publicly on Thursday.

But the constellation of groups funded by the billionaire industrialist Koch brothers – including Americans for Prosperity and Freedom Partners – came out strongly against any trigger last night. They were joined by Grover Norquist from Americans for Tax Reform, the Wall Street Journal editorial board and the U.S. Chamber of Commerce.

They argue that a trigger, if it occurred, would likely increase taxes during an economic downturn, which they fear would cause stagnation. They also complain that it would inject even more uncertainty into the tax system, which would make it harder for businesses to plan their long-term investments.
But these are the people who keep telling us a "downturn" is impossible once the tax cuts are passed. Here's John Kennedy being all adamant about that while making a big goofy John Kennedy face.




If they're so confident, why are they also so worried?

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