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Goldman Sachs Predicts Only Minor Boost From Trump’s Tax Cuts

Posted December 04, 2017

Under Economic Issues, International Trade Issues

(Heater Long – Washington Post)

According to President Trump, there’s one overriding reason America needs tax cuts: They’ll get the economy humming. “It’s called a middle class miracle,” Trump said at the end of September.

But here’s the catch: The White House says the U.S. economy is going to be vastly better off after slashing taxes, but just about everyone else says the impacts will be modest, especially for the middle class.

This isn’t a liberal versus conservative debate. This is a White House and top GOP leaders versus pretty much everyone else debate.

America averaged about 2 percent growth a year for much of the recovery under President Barack Obama. After tax cuts, Trump promises annual growth of 3 percent or more (the White House website currently predicts 4 percent gross domestic product growth per year under Trump). Click here to read more.