Mark Zandi, a Democrat and chief economist at Moody’s Analytics, said “taxes matter” and that well-constructed tax policy can improve long-term growth but not nearly as much as the assumptions made by the Trump administration. In any case, Zandi said, the House and Senate proposals were “very bad tax policy.”
Dambisa Moyo, a Zambian-born global economist, said technology, demographic shifts such as immigration, and debt have far more impact than do taxes on growth.
Cuban argued that the best tax cut to spur growth would be employment tax reduction such as the 2-percentage-point payroll tax reduction that former President Barack Obama signed in 2010. Employment taxes are paid both by workers, via withholdings from their wages, and by employers.
Cuban, 59, a onetime supporter of Trump who later endorsed Democrat Hillary Clinton in the 2016 presidential campaign, has told interviewers since early October that he is considering his own presidential run in 2020.
Asked about it by a member of the audience on Wednesday, he responded, “I don’t know yet. “It’s a serious decision and it’s not one I have to make today,” Cuban said.
