Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Larry Summers Absolutely Eviscerates Trump Tax Plan: ‘This Is An Atrocity’
By Larry Summers for WaPo
The Trump administration’s tax plan is not a plan. It is a melange of ideas put forth without precision or arithmetic. It is not clear enough to permit the kind of careful quantitative analysis of its expected budget costs, economic effects and distributional implications that precedes such legislation in a serious country.
It is clear enough, however, to demonstrate that the claims of Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn an
If summers opposes something, then most likely it’s actually a good thing. The father of negative interest rates is about the biggest loudmouth moron anywhere. He couldn’t trade his way out of a perfect setup without losing. The most accurate thing he said was that he doesn’t understand markets. Much less tax policy.
Forgot to mention, summers is also a big wall street crony. I don’t much like elizabeth warren, but she was right about banking and thank heavens she kicked summers to the curb and away from the fed, as otherwise summers was the first choice for fed chairman by idiot obama.
Are you sipping the kool aid? When has a GOP tax plan ever been good for the average American? Never! Remember when Dubya cut taxes for the “job creators?” The average Joe saw a whooping $50 more a month in their check which at the time did not cover a tank of gas. This crap all started with Reagan and trickle down economics. It doesn’t work and the wealthy laugh all the way to the bank. Get a clue.