In theory there are trillions of tax expenditures that could be eliminated over the next decade to pay the $6 trillion cost of the Donald's tax cuts and reforms. After all, CBO's most recent estimate indicated all tax expenditures combined now amount to about 8% of GDP, meaning that over the next decade the revenue loss would be about $19 trillion. So, yes, you could finance some kind of rate cut bonfire with that!
The Donald's Giant, Ugly, Biggest-Ever...Budget Buster! Part 2
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.