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Trump’s Own Economists Now Admit His Tax Cuts Were A Total FAILURE In a surprising turn of events, Donald Trump's own economic advisors have publicly conceded that the much-touted tax cuts they championed were, in fact, a significant failure. This admission comes from Trump's White House Council of Economic Advisers, who originally backed the Republican tax cut package valued at $1.5 trillion, promising enormous economic growth and widespread financial benefit. Key Takeaways from the Admission:
- Initially, the advisors predicted that reducing corporate taxes by 15% would spur GDP growth between 3% and 5%. However, the reality has been far less optimistic.
- The latest projections suggest a much more modest growth rate of approximately 1.9%, with some economists arguing that the actual figure might linger in the low 1% range.
- This stark revision highlights the persistent challenges faced by the economy, contradicting the earlier promises made by Trump's administration.