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Trump talks about economics, and taxes to congress in 1991

Moot

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Strange....but I agree with him. He says the Tax Reform Act of 1986 destroyed the real estate market and led to the recession and perhaps even the 1988 S&L scandal. He then goes onto say that raising taxes on the top earners and government tax incentives help spur investments and the economy. I bet he still believes that, too.


It's amazing but he acts pretty presidential in the video. In fact, he seems to know more than anyone on the panel. He even has them all, Repubs and Dems alike, agreeing with him.
 
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joG

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Strange....but I agree with him. He says the Tax Reform Act of 1986 destroyed the real estate market and led to the recession and perhaps even the 1988 S&L scandal. He then goes onto say that raising taxes on the top earners and government tax incentives help spur investments and the economy. I bet he still believes that, too.


It's amazing but he acts pretty presidential in the video. In fact, he seems to know more than anyone on the panel. He even has them all, Repubs and Dems alike, agreeing with him.

When you change the motivation structure, behavior changes. That the initial impact will harm those profiting from a windfall before the change and that they will complain is no surprise. That does not mean that the 1986 reform was negative as a whole. It wasn't. What it means is that it should have been phased in more slowly and probably earlier. But the problems back then were not caused by the Act. The problems went much deeper. Saying that the Act was the cause is a confusion of terms. IT might have partially been a factor in triggering the recession, but the causes were quite different.
BTW the same confusion results in people speaking of the Bush recession being caused by a change in the tax code. But it's the same hogwash.
 

Cyrylek

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1991 was a long time ago. Since then, Trump could change his views or simply go nuts, as he often appears onstage. But considering the general history of his words and actions, it is not unreasonable to expect that his economic policies will be seriously left-of-the-center, with a heavy dollop of protectionism (both in goods and in labor). One more reason for #NeverTrump.
 
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