Voodoo Economics at the Treasury — CEO Daily, Tuesday 12th December

Good morning,

Regular readers of this newsletter know I am sympathetic to the GOP tax bill, because it makes needed fixes to the corporate tax system. But there is little good to say about the long-awaited "analysis" of that plan issued yesterday by the Treasury Department.

The analysis said the tax cuts would more than pay for themselves. Sort of. Actually, it said that if annual GDP growth increased to 2.9% a year, up from current projections of 2.2%, that would bring in enough revenue to...

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