Ex-Treasury Secretary Larry Summers just completely trashed the Trump tax plan

[OKNancy]

http://www.cnbc.com/2017/04/27/ex-treasury-sec-larry-summers-just-completely-trashed-the-trump-tax-plan.html

CNBC

President Donald Trump's plan to roll back taxes in the hope that doing so will generate robust economic growth with little impact on debt and deficits is "absurd," former Treasury Secretary and White House economic advisor Larry Summers said.

In fact, Summers added in an interview with CNBC, that had he been asked to present such a plan with the notion that it would pay for itself, he would have refused.

"If I had been asked by the White House to assert a proposition as demonstrably false as the claim that this plan would produce revenue, I would have resigned rather than put the credibility of the department behind a proposition that no one with real experience would believe was true," he said.

Summers served as head of the Treasury during the Bill Clinton administration and as senior economic advisor to President Barack Obama.

The cornerstone of Trumps' economic agenda is that, as well as simplification of the tax code, it will unlock growth, which was strong under Clinton but plodding under Obama.

VIDEO interview at the link http://www.cnbc.com/2017/04/27/ex-treasury-sec-larry-summers-just-completely-trashed-the-trump-tax-plan.html

"I just don't understand what could cause an administration to put its secretary of the Treasury in a position to assert something ... that is generally regarded by economists as absurd," he added.

[asiliveandbreathe]

1. Now, I am not a fan of Summers...but I will give him credit for stepping out -

"If I had been asked by the White House to assert a proposition as demonstrably false as the claim that this plan would produce revenue, I would have resigned rather than put the credibility of the department behind a proposition that no one with real experience would believe was true," he said.

We need more opposition on the airwaves....

[flotsam]

2. " it will unlock growth, which was strong under Clinton but plodding under Obama. "

Someone needs to be kicked in the ass for totally ignoring how an intervening administration may have something to do with this.

[SharonAnn]

3. And growth was "sluggish" under W after all his tax cuts.

[sheshe2]

4. Absurd!

Love your last quote by Summers!

[ProfessorPlum]

5. LOL

"The credibility of the department", stop it Larry, you're killing me

[oasis]

6. "Tinkle On" economics.