Commentary: Putting Trump's anti-establishment rhetoric and trash talk about women aside, I am more concerned about his proposed tax and economic policies. He wants to follow the same trickle down economic policies that Presidents Reagan and George W. Bush followed—cutting taxes while simultaneously increasing spending. He and House Republicans want to decrease the tax burden for the top 1% (making them 18% richer) and reduce regulations, while expanding infrastructure and military spending. According to the conservative tax foundation these proposals would raise the national debt $9 to $10 trillion over the next 10 years. Claims GDP would grow 4% per year. Will never happen—just like it didn’t happen under the Reagan and George W. Administrations. When are we going to learn that cutting taxes does not create more revenue. Just like in our household budget, if we want to spend more we need more revenue.
Going all the way back to the Coolidge Administration, most Republican Administrations (except Eisenhower and Nixon) didn’t want to pay for their wars or increase in spending by raising taxes—let it go on the credit card. Supply-side economic theory or “trickle-down economics” is a joke. Lower taxes do not pay for themselves—it is against all logical thinking. Look at what has happen in Kansas and Louisiana. Short term gains do not make long term economic sound policies—they cause serious depressions and recessions.