White House budget director Mike Mulvaney has come out swinging at The IMF, after the establishment-sponsored organization threw shade at Trump’s tax reform plan’s growth expectations, accusing them of wanting the reforms to fail.
The angry response came after Vitor Gaspar, The IMF’s head of fiscal affairs, told the Financial Times:
‘The idea that one would produce additional revenue by lowering tax rates is something that, being a conceptual possibility, is rarely documented empirically.’
Asked about the IMF’s scepticism, The FT reports that Mr Mulvaney, previously a deficit hawk, said:
‘Yes, they are heavily invested in it not working out.’ He drew a parallel with critics who challenge the growth-enhancing properties of Mr Trump’s deregulatory agenda.
This post was published at Zero Hedge on Oct 11, 2017.