Home Topics in Depth Economics Trump Tax Cuts Could Jump-Start Global Economy, World Bank Says

  • Purveyor (2365 posts)
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    Trump Tax Cuts Could Jump-Start Global Economy, World Bank Says

    by Andrew Mayeda

    *Global growth would be boosted by corporate, personal taxes
    *World economy grew at slowest pace last year since crisis

    President-elect Donald Trump’s tax cuts and spending plans could deliver a shot in the arm to the U.S. economy, lifting growth around the world, although uncertainty about his trade policies adds to the risks, according to the World Bank.

    The Trump administration could squander the economic gains of fiscal stimulus if it imposes new trade barriers that provoke retaliation by other countries, the Washington-based development lender said Tuesday in the latest update to its global economic outlook.

    Overall, it’s too early to assess what the net impact will be of Trump’s economic policies, the World Bank said. Accordingly, it left its forecast for U.S. growth this year and next unchanged, at 2.2 percent and 2.1 percent, respectively. The outlook doesn’t incorporate the expected effect of Trump’s policy proposals, according to the report.

    The bank projects the world economy will grow 2.7 percent in 2017, down 0.1 percentage point from its forecast in June. Stalling trade, weak investment and heightened policy uncertainty have dampened global economic activity, pushing growth down to an estimated 2.3 percent last year — the slowest rate since the financial crisis.

    more…

    https://www.bloomberg.com/news/articles/2017-01-10/trump-s-tax-cuts-could-jumpstart-global-economy-world-bank-says

       

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6 replies
  • GZeusH (971 posts)
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    1. Monkeys could fly out my butt

    World Bank says.

    Policy:  The mistaken notion that bossy people have that they can influence other people's behavior through majority rule.
    • RadicleFantast (912 posts)
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      3. Get video

      or those monkeys are just more fake news.

      I’m trying to visualize this; are you talking little monkeys like marmoset size, or more like mandrills?

      I would not have expected that I, who am barely out of savagery, would have to remind gentlemen with five thousand years of recorded civilization behind them, of our Bill of Rights
      • GZeusH (971 posts)
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        5. I have video

        A big dinner of cabbage and beans unleashes torrents of ’em

        Policy:  The mistaken notion that bossy people have that they can influence other people's behavior through majority rule.
  • goodgirl (1980 posts)
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    2. They always say that.

    Over and over and over again.

    Mankind must put an end to war before war puts an end to mankind.    John F. Kennedy
  • Abelenkpe (227 posts)
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    4. Tax Cuts AND Spending Plans?

    Isn’t that a recipe for increased deficits?

  • Cassiopeia (1280 posts)
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    6. World Bank wants tax cuts and free trade.

    In other news water is indeed wet.