President Trump’s new CEA chair, Kevin Hassett, walked into the lion’s den last week with his first official speech. He used the moment to pound the leftist Tax Policy Center (TPC). It was a wonderful sight.
When Hassett wasn’t pounding the TPC, he was spanking them. He took them to the woodshed, and disciplined them in public view.
Hassett rightfully accused the TPC for ignoring widely accepted economic literature, for using false assumptions on tax details that have never been published, and for manufacturing income-redistribution (“tax cuts for the rich”) and deficit numbers that don’t even exist.
“It’s inaccurate,” he said. “It’s fiction.”
In perhaps his toughest criticism of all, Hassett called the TPC’s findings “scientifically indefensible.” There’s no greater insult among academics.
It’s a pity that mainstream-media outlets refer to the TPC as “nonpartisan.” They’re not. TPC staff is chock-full of former Obama economists.
But Hassett has shown no fear.
Kevin Hassett is the new face at the highest economic level of the Trump administration. …
… Citing numerous peer-reviewed papers, Hassett reminded his audience of a plain truth: Taxes matter. They impact the economy.
“Economists who have studied the effects of taxes over time have discovered a consensus,” he said. “Lower marginal tax rates and a broader base increase the rate of economic growth and well-being.”