Justin Lahart
speaker
1,185 appearances
22 recordings
1 series
first heard Jul 2017
last heard Dec 2024
Justin Lahart’s voice in public audio — every appearance, attributed to the second.
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Appearances
So definitely more people get a break from that.
You have the child tax credit that is increased for now.
and also having the corporate tax cut come into effect in 2018 instead of 2019, as was in the Senate plan.
Yeah, so all of that makes a difference, and it really means that the expectation that economists had that the tax plan would bump up growth by about a third of a percentage point, now you have to think that it's going to be more than that.
Well, one thing that happens is to the extent that this tax cut does go toward the middle class.
I mean, obviously, a lot of it goes toward rich people.
But if you give people who are well off a tax cut, they don't tend to spend it.
Right.
Because they already have what they need.
Right.
They don't they don't need to spend more.
Whereas if you take people who are more, you know, solidly middle class, every every little bit you give them, they can use.
Right.
So they're less likely to save a tax cut than they are to spend it.
So they buy a new vacuum cleaner, get some new shoes for the kids, things like that.
Yeah, all of that kind of stuff.
And frankly, if you wanted to just juice the economy purely, then you want to just give lots of money to people in the middle class.
That wasn't the only thing going on with this tax plan.
In fact, it wasn't really aimed at making the economy go faster next year.
Some of the shifts that we see, maybe the Alabama Senate loss for the Republicans, that may have focused the mind a little bit.
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