Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
6 replies, 7319 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (64)
ReplyReply to this post
6 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
And Peter Pan flies.... (Original Post)
pbmus
May 2017
OP
Trump Budget Based on $2 Trillion Math Error. That's $2,000,000,000,000.
Bernardo de La Paz
May 2017
#3
erronis
(15,185 posts)1. That's because the repuglicans have someone else to the math for them
Corporations, their lobbyists, and now their russian partners.
"It's OK comrade, I'll make sure your bank balance is enough for your mistresses. And, yes, that last video of the two of you was quite interesting."
Honeycombe8
(37,648 posts)2. Funny! nt
Bernardo de La Paz
(48,966 posts)3. Trump Budget Based on $2 Trillion Math Error. That's $2,000,000,000,000.
https://www.democraticunderground.com/10029106325
Trump Budget Based on $2 Trillion Math Error
By Jonathan Chait
May 23, 2017
9:31 am
One of the ways Donald Trumps budget claims to balance the budget over a decade, without cutting defense or retirement spending, is to assume a $2 trillion increase in revenue through economic growth. This is the magic of the still-to-be-designed Trump tax cuts. But wait if you recall, the magic of the Trump tax cuts is also supposed to pay for the Trump tax cuts. So the $2 trillion is a double-counting error.
Trump has promised to enact the biggest tax cut in history. Trumps administration has insisted, however, that the largest tax cut in history will not reduce revenue, because it will unleash growth. That is itself a wildly fanciful assumption. But that assumption has already become a baseline of the administrations budget math. Trumps budget assumes the historically yuge tax cuts will not lose any revenue for this reason the added growth it will supposedly generate will make up for all the lost revenue.
But then the budget assumes $2 trillion in higher revenue from growth in order to achieve balance after ten years. So the $2 trillion from higher growth is a double-count. It pays for the Trump cuts, and then it pays again for balancing the budget. Or, alternatively, Trump could be assuming that his tax cuts will not only pay for themselves but generate $2 trillion in higher revenue. But Trump has not claimed his tax cuts will recoup more than 100 percent of their lost revenue, so its simply an embarrassing mistake.
It seems difficult to imagine how this administration could figure out how to design and pass a tax cut that could pay for itself when Ronald Reagan and George W. Bush failed to come anywhere close to doing so. If there is a group of economic minds with the special genius to accomplish this historically unprecedented feat, it is probably not the fiscal minds who just made a $2 trillion basic arithmetic error.
###
http://nymag.com/daily/intelligencer/2017/05/trump-budget-based-on-usd2-trillion-math-error.html
Xipe Totec
(43,888 posts)4. Alt Math
k'mon, it was obvious.
pansypoo53219
(20,955 posts)5. faith based economics.
keep tinklebell alive. see kansas. voodoo does not work either.
leftofcool
(19,460 posts)6. fake math?