Sunday, December 3, 2017

What do Economists think of the Trump Tax Plan?

Top Economists have a consensus on the matter:



Note that there is a lot of uncertainty over whether the tax plan will "substantially" raise GDP. If you listen to Tyler Cowen, raising GDP might be so important that it crushes any tradeoffs that come along with it.

Clearly, even with a higher GDP the debt-to-GDP ratio will rise. Obviously because these lower taxes will not raise tax revenue.

The survey comes from the IGM Forum, which polls economists on a ton of issues. I think you should care since it seems pretty likely that if you disagree with all the experts, and don't even know what the experts believe, you might be irrational.