Source: NCPA
Dallas, TX (February 22, 2016)
According to a newly updated report from the Beacon Hill Institute and the National Center for Policy Analysis, the Ted Cruz and Donald Trump tax plans would each eliminate large numbers of public sector jobs in either plan’s first year. However, an even greater number of private sector jobs will be created, assuming that the candidates’ tax plans are paid for by cuts in federal spending.
According to the findings of the Tax Analysis Center report:
- Trump’s tax plan would eliminate more than half a million government jobs in the first year it is enacted (assuming 2017), but would create 3.5 million private sector jobs.
- Cruz’s tax plan would eliminate 886,000 government jobs, but would create 7.4 million private sector jobs in the first year.
- Additionally, during the first year, personal income would grow 4 percent under the Trump plan, but over 7 percent under the Cruz plan.
“As we study the tax policies coming from the various campaigns, we find that the critical test for the suitability of a particular proposal depends on its ability to stimulate the economy while inflicting the minimum revenue loss on the federal government,” said NCPA Senior Fellow and Director of the Beacon Hill Institute Tuerck. “Of the two proposals that we have examined so far, those by Trump and Cruz, we find the Cruz proposal to be the better of the two.”
Trump v. Cruz: The Comparative Economic Effects of Two Tax Proposals: http://www.ncpathinktank.org/pub/trump-v-cruz-the-comparative-economic-effects-of-two-tax-proposals