Dec. 16 at 8:44 PM
WSJ: President Trump to interview Chris Waller
Economist: He (Hassett) has behaved like a hack unconcerned with reality. In 2017 his “very [conservative]” estimate was that Mr Trump’s corporate-tax cuts would boost annual household incomes by
$4,000 on average—far above other estimates at the time & any effect picked up since.
--- He later suggested that the long-term effect of the 2017 tax cuts could actually lead to an increase of
$9,000 or even
$10,000 in average household income.
BTW Joint Economic Committee found that in the first year after the tax cuts, median household income grew by only
$550
In 1999, near the height of the dotcom boom, Hassett predicted a near-quadrupling of the Dow Jones index
--- Dow did not hit 36,000 until 2021—nearly 20 years later
---- Hassett has lost all respect among economists & bond traders. While his reputation hasn't sunk as low as Ron Vara, no one believes he will act independently, despite his charm offensive in the media
$SHY $TLT $SPY $GLD $IBIT