HONOLULU (HawaiiNewsNow) - In past diatribes on tax changes I've griped about the betrayal of small business. They help big corporations more than the little guy. Today: an issue that bedevils supporters and critics alike: the impossibility of foretelling the future.
Trickle-down disciples say it didn't work for Reagan only because of special factors. This claim lets them dismiss past failure and argue it will work THIS time.
Will there be special factors this time? We don't know. Neither do they.
Tax revenue is affected by inflation. How much of that will there be? We don't know. It depends on growth. How much of that will there be? We don't know. Ending the requirement to get health insurance is a wild card. Choosing not to be insured, you can't claim tax credits. But how many people will forgo insurance? We don't know.
Politicians like to say they're making projections. Which means, they're guessing.