NTK: More than three in four economists say the U.S. will get a tax cut before November 2018.
That’s the gist of a report released by Bloomberg after they surveyed 38 economists on tax reform.
The topline results, from Rich Miller and Catarina Saraiva:
Of 38 respondents, 29 expect Congress to pass tax-cut legislation by November 2018. The policy changes though are only expected to add 0.2 percentage point to the pace of gross domestic product expansion in 2018, according to the median figure from analysts penciling in an impact.
The Bloomberg survey forecasts growth in 2018 to be only slightly higher than this year — 2.3 percent versus 2.1 percent, according to median projections from a broader pool of 71 economists. What’s more, analysts see the economy losing momentum in 2019, with expansion falling back to 2 percent, contrasting with the Trump administration’s forecast of a further pickup.
No real tax relief occurs unless both federal, state and local taxes are figured into the equation. Give here take there. We’re being gamed any way it goes.
This report surprises me because in my experience if you lay all the economists in the world end to end they still won’t come to a conclusion.
Yeah, right.
Of course, today it was announced another record quarter of tax revenue confiscated by big government.
🙁
Will this be before or after the repeal of obamacare?
When was the last time a group of economists were correct about anything?
@Page O Turner August 15, 2017 at 9:24 am
But if you do it in a ditch, supply will never meet demand.
Everything worthwhile has to be scheduled close to elections. The other crap is always a long time before to give voters a chance to forget or forgive.
Let’s take a sharp pencil to the federal budget and start downsizing the damned thing and zeroing out useless agencies like Education, Energy, Labor. All of them could do with a good haircut. Let’s have the tax cuts following spending cuts.