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Harvard Economists Reveals The Truth Behind Trump’s Tax Plan

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Harvard Economists Reveals The Truth Behind Trump’s Tax Plan

In an interview with Bloomberg Television, former Treasury Secretary Lawrence Summers said that Donald Trump’s tax plan will do nothing to boost U.S. economic growth.

“This is an effort to cut taxes, principally to cut taxes on business in ways that will benefit a small part of the population and will do very little, in my judgment, for the economy,” Summers, a Harvard professor, said Tuesday. “The great danger here is that we’re going to have some kind of giveaway that is going to impoverish the public sector with respect to huge challenges that it faces down the road.”

Last week National Economic Council Director Gary Cohn appeared on Fox Business and said the administration’s tax reform is a “once in a lifetime opportunity.”

But Summers does not think so.

“I don’t see that developing in the proposals that are under discussion,” he said. “There’s a risk that some of the proposals, like the emphasis on territorial taxation without a global minimum, would operate primarily to encourage more businesses to do more things abroad instead of in the United States.”

Trump’s White House announced it will release the President’s final version of his tax plan before the end of this month.

RELATED: Trump Just Dropped Obama-Era Rule And Has Gutted The Wages Of Over 4 Million Workers

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