OK, so now Donald knows what to expect. We expect him to attack Herself much more vigorously….he’s got enough material for the next two debates if the moderators cooperate and don’t ask Hillary softball questions.
There’s one point that everyone got wrong, we thing: the effects of a tax cut. Donald should remember this from Wharton, but it’s been a while. And they all missed what happened when Reagan cut the hell out of taxes:
- There will be a drop in tax receipts for a couple of years, until business growth catches up, and then receipts will increase. So, yeah, the deficit will increase for a couple of years. I’d be surprised if Donald can’t cut 10% out of federal spending. We see a balanced budget in 5 years.
- We can’t see a drop in employment at all….except at the federal govt level, maybe. Businesses will hire some more folks, having kept more money; businesses won’t relocate to England and Ireland because there won’t be a tax advantage to do so. Even Ford might stay home.
- All the corps with offshore retained earnings will be able to bring them home (NO taxes), which should help investment, which should help employment.
So, let’s try to get the economics right, everybody.