But GOP officials nevertheless want to believe their assumptions about trickle-down tax cuts are not only correct, but also bolstered by experts. On “Meet the Press” this past weekend, Sen. Susan Collins (R-Maine) made the bizarre argument that tax cuts lead to growth, which leads to revenue, which “actually lowers the debt.” When NBC’s Chuck Todd pressed her to point to any evidence to support her assumptions, she eventually replied:
“Well, talk to economists like Glenn Hubbard and Larry Lindsey and Douglas Holtz-Eakin, who used to be head of the [Congressional Budget Office].”
That was probably not the right thing to say.
The Washington Post’s Jennifer Rubin spoke to two of the three conservative economists Collins mentioned – Glenn Hubbard and Douglas Holtz-Eakin – and neither one believes the Republican tax plan pays for itself through revenue created by increased economic growth.
Collins’ communications director told the Post, “Senator Collins did not mean to state definitively that the tax cut would pay for itself – I can see why you would think that reading the [“Meet the Press”] transcript, and, to be clear, she does believe that the cuts could potentially pay for themselves.”
