4 ways Trump’s tax cuts changed the American economy
4/15/19
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from CNN,
4/15/19:
Monday is the first Tax Day under the new rules of the Tax Cuts and Jobs Act, but Americans have been adapting to the law since it passed in late 2017.
Some of its effects are already visible, and some of them will take months, or even years, to understand. After all, economists are still publishing studies about the effect of the last comprehensive tax overhaul back in 1986, signed by Ronald Reagan.
Here’s what we can — and can’t — say about how President Donald Trump’s tax cuts have impacted the economy so far.
1. Corporate taxes fell off a cliff, fueling deeper deficits
2. A short-term economic boost is fading
3. Rich people gained more than poor people
4. Most other impacts: Either too soon to tell or too hard to see
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