Jason Furman Worries U.S. Debt Spikes in Tax Reform

The video discusses the proposed tax reform by Republicans, focusing on significant tax cuts of up to $2 trillion. The speaker critiques this approach, advocating for revenue-neutral tax cuts to address high tax rates and loopholes without increasing national debt. Concerns are raised about the potential negative impact on the economy, given the current low unemployment and high debt-to-GDP ratio.

What is the range of the proposed tax cuts discussed in the video?

• $500 billion to $1 trillion

• $1.5 trillion to $2 trillion

• $2 trillion to $2.5 trillion

• $1 trillion to $1.5 trillion

What is the main concern about the proposed tax cuts?

• They could worsen the national debt situation.

• They might increase inflation rates.

• They might lead to increased unemployment.

• They are not large enough to stimulate the economy.

What is the suggested approach to tax reform according to the video?

• Increasing tax rates to reduce debt.

• Focusing on revenue-neutral tax reforms.

• Ignoring tax loopholes.

• Implementing large tax cuts regardless of the debt situation.

What is the current debt-to-GDP ratio mentioned in the video?

• 70%

• 50%

• 80%

• 60%

What is the potential negative effect of the proposed tax strategy?

• It could decrease economic growth.

• It might increase the debt-to-GDP ratio.

• It could lead to higher unemployment.

• It might reduce consumer spending.