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Trump's tariffs-for-tax cuts plan: Who stands to benefit?
  + stars: | 2024-07-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's tariffs-for-tax cuts plan: Who stands to benefit? Richard Stern, Heritage Foundation Center for the Federal Budget director, and Mary Lovely, Peterson Institute for International Economics senior fellow, join 'Squawk Box' to discuss former President Trump's 'tariffs-for-tax cuts' plan.
Persons: Richard Stern, Mary Lovely, Trump's Organizations: Heritage Foundation Center, Federal Budget, Peterson Institute for International Economics
Improper payments, which refer to payments that are made incorrectly by the government, cost the U.S. $247 billion in 2022, according to the Government Accountability Office. "In the federal government, everything is 'Go spend more money' and if that doesn't work, it's 'Go spend more money.'" It's the job of the GAO to audit and report any wasteful spending by the federal government. Nevertheless, wasteful spending by the government can have painful consequences to the health of the economy, according to watchdog groups. Watch the video to find out more about why taxes feel so high in the U.S. and why so much taxpayer money gets wasted.
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