During the last Republican debate the Wall Street Journal’s Kimberly Stassel challenged Donald Trump on the projected revenue from his proposed tax plan.
In essence Stassel claimed some economists doubted the growth factor Mr. Trump projects in his tax proposal.
In a sixty second response time, it is factually impossible to explain something we have discussed here before. Specifically, one of the larger hurdles Trump faces is a need to re-educate an entire generation on a fundamentally new vision of the U.S. economy. A return to a goods- based manufacturing and industry driven economic model.
Interestingly, many people have referenced a 1991 (25 years old) video of Donald Trump testifying before congress – as evidence of him being tuned in to political consequences of economic activity. The entire video is well worth watching because it gives you insight into a very specific moment in time as they discuss the ‘Reagan era’ 1986 tax reform act.
However, for the sake of this discussion post I would like to draw your attention to a very specific exchange between Donald Trump and Representative Helen Delich Bently (R-MD). (more…)