Economic and political outcomes are intertwined and mutually reinforcing. And in 2019, the consequences of the bad policies and worse politics of the last two years will come more fully into view – and not only in the United States.
NEW YORK – At the end of 2017, US President Donald Trump’s administration and congressional Republicans rammed through a $1 trillion cut in corporate taxes, partly offset by tax increases for the majority of Americans in the middle of the income distribution. But in 2018, the US business community’s jubilation over this handout started giving way to anxiety over Trump and his policies.
NEW YORK – At the end of 2017, US President Donald Trump’s administration and congressional Republicans rammed through a $1 trillion cut in corporate taxes, partly offset by tax increases for the majority of Americans in the middle of the income distribution. But in 2018, the US business community’s jubilation over this handout started giving way to anxiety over Trump and his policies.