First quarter GDP, following the massive tax cut that was supposed to serve as a stimulus, clocked in at a meager 1.7% after peaking at 2.9% in the fourth quarter of 2017, before the tax “stimulus” took effect. Unless GDP grows in excess of 3-4% annually, the deficits resulting from tax cuts will not be met with adequate tax revenue from increased profitability to cover the costs of their implementation. Not by a long shot.
Sometimes I am asked why I feel hopeful about the state of humankind. I’m hopeful for many, many reasons. I see the life experiments being run by millennials, and I rejoice. I observe the rising activism that isn’t self-serving, but focuses on improving the quality of life for everyone, and I rejoice. I notice the spiritual movements, the consciousness movements, minimalist and environmental movements, the social justice movements, and I rejoice.