Dallas business consultant Dirk Lautenschlager has been a vocal Trump critic for years, but he now thinks the president’s tax reform plan is a good idea.
Lautenbach, the author of “Business Analyst Consultant,” said that while the president is trying to get his agenda implemented quickly, the current plan is flawed.
Lauded by his peers, Lautensen said that Trump’s proposed changes to the corporate tax code could reduce or eliminate tax burdens on businesses.
He said that if implemented properly, the plan would generate $4 trillion in new revenue for the federal government.
“If it worked like this, we’d have $3 trillion more in tax revenue in 2019,” Lautsen said.
“That’s a lot of money.
It’s not a small amount.””
It’s very important for the economy to be growing, but we’re going to have to be careful with it,” Laudenbach added.
“I’ve been saying for a long time that the only way we’re ever going to get our economy going again is to reduce tax burdens, and that’s not going to happen.”
Trump’s proposed cuts to the national debt and corporate taxes would lead to a 2.2 percent GDP contraction over the next 10 years, according to Lautenburg’s report.
“It’s a bad plan.
The American economy is going to suffer, and the economy is not going up,” he said.
Lautenschaube is currently a senior fellow at the American Enterprise Institute, a conservative think tank.
The group’s Tax Policy Center estimates that the tax plan would cut the deficit by $1.8 trillion over 10 years and cost the federal treasury $1,716 billion.