GOP Debate Offered Many Plans but No Easy Fix for the Economy

Republican candidates delivered their views on how they’d improve the economy during the GOP Debate Wednesday night, but doing that will not be easy, according to one expert.
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Republican candidates delivered their views on how they’d improve the economy during the GOP Debate Wednesday night, but doing that will not be easy, according to one expert. Cary Leahey, an economist with Decision Economics in New York, said addressing the problem of the stagnant middle class, which has not seen a rise in living standards, is difficult. ‘The only way you fix those problems is, it costs money and it takes a long time. So you can’t turn around middle class incomes on a dime, unless the economy grows and 6% or 7% over the next few years.’ The candidates discussed their tax reform policies and Leahey weighed in on that. Leahey said lowering the corporate tax rate would help the economy, but tax reform has been difficult to get through Congress. But he added that lowering tax rates too much can result in a drop in tax revenues.