1. Everybody Hates the Trump Tax Plan
Written by Paul Krugman
Presented by David Nowak

2. Paul Krugman Born and raised in Albany, NY Keynesian Economist
B.A. in Economics from Yale(1974), Ph.D. from MIT (1977)
Distinguished Professor of Economics at Luxembourg Income Study Center at the City University in New York
2008 Nobel Memorial Prize Winner
Op-Ed columnist for NY Times

3. GOP Tax Plan PRIVATE INVESTMENT ECONOMIC GROWTH
ECONOMIC GROWTH
Plan as described by Krugman

4. Risidual Effects
GROWING ECONOMY
WAGES
SUM OF TAXES PAID

5. The Problem
The main goal of the cuts in corporate taxes is to increase capital expenditures of businesses
Meeting of CEOs hosted by Gary Cohn
CEO’s did not believe a change in the corporate tax rate would affect capital expenditures
Tax Rates ARE NOT an important factor in investment decisions
Plan falls apart, only making the rich, richer

6. Other Issues Raises taxes on most individuals
2-1 disapproval among general public
Will lead to 13 million additional uninsured
Tax cut induced deficits would lead to cuts in Medicare
Deficits would grow more than $6 trillion over the next decade

7. Reality Bill provides no incentive to consume less and save more
Money for capital expenditures must come from abroad
Selling stocks, bonds, etc. to foreigners
Inflow of foreign dollars drive up value of American dollar
Huge Trade Deficits
More than 2 million manufacturing jobs lost
Any economic growth would benefit foreigners, not Americans

8. Tax Cuts and Jobs Act
Actually lowers tax rates for almost all brackets
Lower corporate tax rates from 35% to 21%
Repeals Obamacare tax on those without health insurance
CHART: Amadeo, Kimberly. "How Trump's Tax Reform Plan Affects You." The Balance Small Business. February 07, Accessed February 24,

9. Does Everyone Hate the Trump Tax Plan?
Not all people are negatively affected by the tax plan
Krugman recalls NY congressman Chris Collins incentive
Donors saying to “Get the Job Done”
Unfavorable views by general public
Time will tell if the tax plan has a positive or negative impact

10. THANK YOU!
QUESTIONS?

11. REFERENCES
"Paul Krugman." The New York Times. November 12, Accessed February 24,
Amadeo, Kimberly. "How Trump's Tax Reform Plan Affects You." The Balance Small Business. February 07, Accessed February 24,
"Krugman." About Paul Krugman | Paul Krugman | Nobel Prize Winner and Op-Ed Columnist for The New York Times. Accessed February 24,