EY CEO Says GOP Tax Plan Will Add to Wages and Growth

The transcript discusses the expectations of modest economic growth, the benefits of a tax overhaul for US businesses, and the positive outlook from the Business Roundtable regarding hiring and investment. It also covers the impact of deregulation on the economy and debates the effects of tax cuts on economic growth, wages, and productivity.

What is the main reason CEOs are optimistic about the tax overhauls?

• They anticipate a reduction in operational costs.

• They foresee a decrease in global competition.

• They expect immediate profit increases.

• They believe it will lead to a more competitive tax system.

What percentage of people in the Business Roundtable survey said they would hire more people if the tax changes go into effect?

• 90%

• 82%

• 76%

• 50%

What is one of the added benefits of the tax overhaul mentioned in the second section?

• Mandatory profit sharing

• Increased tariffs on imports

• Higher corporate tax rates

• Accelerated depreciation

What is a concern mentioned about the economic impact of the tax cuts?

• They will reduce capital investment.

• They will lead to a decrease in wages.

• They will not fully pay for themselves.

• They will increase global competition.

What is the expected impact on GDP growth according to the discussion in the third section?

• No change

• An increase of 0.4%

• An increase of 2%

• A decrease of 1%