Between the Lines: Trump Tax Plan Revives Economic Voodoo

On April 26, just a few days short of President Trump’s 100th day in office, a so-called “tax reform” plan was released by the White House that consisted of bullet points on a single printed page. Although there were few details on implementation and the net impact on families and federal revenue, it was clear that the tax plan would disproportionately benefit the wealthiest Americans, like Trump himself and the billionaire and multi-millionaire members of his Cabinet.

Although Trump and his advisors maintain that the tax cuts would pay for themselves by promoting economic growth, history has shown that so-called “Trickle-down” economic theory has never worked, leading many economists to predict that Trump’s tax plan would add as much as $7 trillion in debt over 10 years. Between The Lines’ Scott Harris spoke with Matthew Gardner, a Senior Fellow at the Institute on Taxation and Economic Policy, who talks about why his group views Trump’s tax plan as a revival of “Voodoo Economics.” Read more

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