Goolsbee Says Tax Cuts Weren't Paid for, Haven't Helped Americans

The video discusses the effects of tax cuts on the US economy, highlighting both positive and negative impacts. It examines the lack of significant capital investment following the cuts and the potential risks of economic overheating. The discussion also covers the implications of trade tensions and tariffs, particularly between the US and its allies, and the potential for a trade war with China. The video concludes with concerns about the impact of tariffs on the manufacturing supply chain.

What was one of the main benefits of the tax cuts according to the speaker?

• Reduced income inequality

• A more competitive US tax system

• Increased wages for ordinary people

• Decreased national deficit

What was the primary use of funds from the tax cuts?

• Dividends and share repurchases

• Infrastructure development

• Capital investment

• Research and development

What is a potential risk of implementing tax cuts during full employment?

• Decreased consumer confidence

• Economic overheating

• Lower business investment

• Increased unemployment

What could be a consequence of escalating trade tensions with China?

• Higher employment rates

• A potential recession

• Increased GDP growth

• Improved diplomatic relations

How might tariffs on automobiles affect Canada?

• Boost the Canadian economy

• Hurt the Canadian economy

• Increase Canadian exports

• Have no significant impact

What is a criticism of imposing tariffs on steel according to the speaker?

• It reduces steel prices

• It misunderstands the supply chain

• It increases manufacturing growth

• It supports American manufacturing

What is the speaker's hope regarding the trade policies discussed?

• That they will decrease GDP

• That they will lead to a trade war

• That they will be reconsidered

• That they will increase tariffs