Wednesday, October 4, 2017

Redefining "Balance"



Deficits, it turns out, matter only when Democrats are in charge. Screaming about increasing debt, as was heard under Obama (despite, as has always been the case with Ds vs Rs, the deficit dropping after rising under Bush), will be a thing of the recent past. From the Tax Policy Center:
This paper analyzes presidential candidate Donald Trump’s revised tax proposal, which would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions, cap itemized deductions, and allow businesses to elect to expense new investment and not deduct interest expense. His proposal would cut taxes at all income levels, although the largest benefits, in dollar and percentage terms, would go to the highest-income households. Federal revenues would fall by $6.2 trillion over the first decade before accounting for added interest costs. Including interest costs, the federal debt would rise by $7.2 trillion over the first decade and by $20.9 trillion by 2036.
But... but... Donald and Paul promised us budgetary balance. It's almost as if they were knowingly lying. It's almost as if they assume their base LIKES being lied to.

Which, it's obvious, they do.

The entire analysis is found at the above link. In fairness, it does predict short-term growth in GDP, which falls after the first few years.

1 comment:

Anonymous said...

this isn't the only area showing hypocrisy on the right. Remember how distraught the evangelicals were over Clinton's behavior? Then you have Trump on tape admitting to sexual assault and he's still their guy.

Mike

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