From Jon Perr at PERRspectives:
Despite the hemorrhage of red ink produced by the Reagan and Bush tax cuts, Trump White House economic adviser Gary Cohn bragged, We think we can pay for the entire tax cut through growth over the cycle,” a point echoed by Treasury Secretary Steve Mnuchin on November 13. The 10-year, $1.5 trillion windfall for the wealthy will “not only … pay for itself,” Mnuchin boasted, “but it will pay down debt” as well. Unfortunately, analyses from the Congressional Budget Office (CBO), Joint Committee on Taxation (JCT), the Wharton School, the Tax Policy Center (TPC) and even the conservative friendly Tax Foundation (TF) concluded otherwise. And even without seeing the president’s past tax returns, we know that Donald Trump was lying through his teeth when he said the GOP tax plan was “going to cost me a fortune” and that his own finances were “going to get killed in this bill.”
So, neither the House nor the Senate versions of the GOP’s “Tax Cuts and Jobs Act” (TCJA) does a very good job of actually delivering tax cuts, except to corporations and the wealthiest people in America. But as it turns out, the TCJA doesn’t do much to create jobs, either.
Of course, you’d never know it listening to Paul Ryan.