US House Speaker Paul Ryan addresses a news conference after the House passed the tax cut plan in Washington DC, on November 16. Ryan has long been a champion of tax reform in the US, calling for cuts in tax rates to spur investment. Photo: Xinhua

US Republicans’ claims about the benefits of tax cuts have a credibility deficit

Stephen Roach says already depleted savings rates, the prospects of soaring budget and trade deficits, plus the failure of past supply-side tax cuts to pay off, all make Republican claims about their current bill unbelievable

Topic |   Donald Trump

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US House Speaker Paul Ryan addresses a news conference after the House passed the tax cut plan in Washington DC, on November 16. Ryan has long been a champion of tax reform in the US, calling for cuts in tax rates to spur investment. Photo: Xinhua
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