President Trump's Budget Includes a $2 Trillion Math Error (time.com)

An anonymous reader quotes a report from TIME: President Trump's budget includes a simple accounting error that adds up to a $2 trillion oversight. Under the proposed budget released Tuesday, the Trump Administration's proposed tax cuts would boost economic growth enough to pay for $1.3 trillion in spending by 2027. But the tax cuts are also supposed to be revenue-neutral, meaning that trillion dollars is already supposed to pay for the money lost from the tax cuts. Former Treasury Secretary Lawrence Summers called the oversight an "elementary double count" and "a logical error of the kind that would justify failing a student in an introductory economics course" in an op-ed in the Washington Post.

Comments

Re:Not an error. A lie.

[WheezyJoe]

The Trump administration has done nothing counter to Constitution.

That remains to be seen. There's this thing in the Constitution called the Emoluments clause that restricts members of the government from receiving gifts, emoluments, offices or titles from foreign states without the consent of the United States Congress. Trump maintains, through at least his family members and a paper-thin revocable trust, a LOT of property interests (hotels, resorts, golf courses, vacation homes) that rich foreigners can dump money into in return for a little kind attention from Herr Donald.

He still hasn't released his tax returns either (is he still being audited, not that that means anything), which might show substantial financial obligations to foreign stake-holders (there's a lot of borrowing that goes on in the real-estate business).

Then there's this little matter of involvement of a foreign power in the matter of an election, and obstruction of justice for trying to cover up any link to that foreign power.

Re: Not an error. A lie.

[spun]

I'm aware of how the Laffer curve works, but most reputable economic studies show the top of the curve is at around a 60% top marginal tax rate. Anything lower than that and you are losing revenue. In any case, I am just going by what the budget itself claims. It counts the same two trillion twice, read the articles, it's a basic math error.