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Can We Afford Trump Tax Cut?

(2017-07-04 10:26:52) 下一个

This is my post in a Trump tax cut discussion.

There are a lot countries which have high Debt/GDP ratio, China and Japan for example.  But China GDP is growing at 6 to 7% pace which is a lot higher than US.  US GDP has been growing at rate of 1.5 to 2% for the past 9 years.  As long as you have a decent GDP, you should be able to service your national debt.  That's why China can handle a higher debt ratio than US.  We can handle our ratio of 100%, that is no question about it.  But we can not handle if the ratio is too high .  Trump can not just do the tax cut without any incoming revenue.  Just use the 2% GDP growth is not enough to support his tax cut.  If the tax cut goes through, we definitely will see the increase of our national debt which is $20 trillion at this point.

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