VP Harris’ tax proposals would raise real incomes for Americans in the bottom 20% by 13.6%.
Trump’s agenda is economically regressive, benefitting the wealthiest Americans and hurting the working class while exploding the deficit.
Mar 18, 2020 • 7 tweets • 2 min read
Congress and Trump admin have been discussing $750-850 billion stimulus packages to mitigate economic damage from the coronavirus pandemic. That’s not nearly enough. We needs to think bigger - 3x bigger - and smarter if we want to avoid a deep depression. Here is what I propose:
We should be treating this like wartime. That’s how grave it is. During WWII we ran deficits as high as 26% of GDP. Using 20% of GDP (1945) as a point of reference, we still have room for another $3 trillion+ in fiscal stimulus. We should overwhelm the enemy with firepower.
