” said one of those two economists, Kenh Judd, when asked about his response to Tmp's tax claim. “I meant to say that this is a horrible idea, a bad idea — no chance in hell. The other respondent who said that Tmp's tax cuts would pay for themselves was Bengt Holmström of the Massachusetts Institute of Technology, who confirmed in an email to The Washington Post that he had also misread the question. Besides Judd and Holmström, another 35 economists said that the tax cuts would not finance themselves, and five more did not answer the question. In total, there is not one economist in the Chicago poll who believes that Tmp's cuts would pay for themselves, suggesting his administration might not be able to deliver on a ccial promise. Republicans have long argued that reducing taxes will encourage Americans to work and invest, and that the increased taxes the government collects on those wages and gains from new investments will cancel out the forgone revenue. Now, the Tmp administration is relying on that reasoning as they move ahead with plans to slash taxes without bringing down government spending. Repealing the estate tax is on President Tmp's tax reform wish list. Here's a look at the tax. (Daron TaylorThe Washington Post. Treasury Secretary Steven T. Mnuchin told investors at a conference in Beverly Hills last week that Tmp planned to make up for reducing taxes stimulating the economy and eliminating breaks and loopholes, although the administration has not offered details about their plan.
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