Tax Cuts Pay For Themselves - A Lie

Politics
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As many of us have been saying for some time now, supply-side economics is ■■■■■■■■■ We said the tax cuts would not pay for themselves as it’s never, ever been the case. Well, once again, we’re proven correct according to the CBO Director:

WELL, OBVIOUSLY, PROJECTING THE FUTURE, YOU CAN BE WRONG. WE CAN BE WRONG. WE DID A REALLY CAREFUL ANALYSIS OF THE TAX BILL. WE LOOKED AT RESEARCH, WE TRIED TO BASE ON REAL DATA AND REAL EVIDENCE. AND OUR ESTIMATE DID, IN FACT, SHOW THAT THE GDP BENEFITS OF THE TAX BILL WOULD INCREASE REVENUES, BUT NOT ENOUGH TO FULLY COVER THE BILL. AS YOU SAID, IT COVERS ABOUT 30% OF THE TAX BILL WITH RESPECT TO THE DEFICIT.

https://www.c-span.org/video/?457344-1/cbo-director-keith-hall-testifies-house-budget-committee&start=948

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NEEDS MOOR DYNAMIC SCORING !!!

(Seriously, it’s 2018, and the dumb ■■■■ we still have to argue about . . . )

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But hey, there’s this new billionaire in town that wants to solve the “debt crisis”. Can you imagine how he wants to do that? Hint: It’s not by raising taxes.

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a balanced budget amendment would be nice…

bring back Newt

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Yep.

10Yeps

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No, it’d be a ■■■■■■■ disaster. Full stop.

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No and no.

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You don’t seem to grasp how government funding works.

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And the resulting economic crisis would make the Great Depression seem like good times.

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I never thought much of Larry Kudlow. And when he said that the tax bill would drive GDP to 3.5% - 4% and therefore pay off the total tab, I was amazed that they would lay that snake oil on the public. Now we can look forward to 2024 when those folks who got a tax break will see their taxes tear the roof off.

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The great kicker is the corporate tax cuts were permanent, so the government is going to be funded off the back of the workers. I wouldn’t mind that if the government actually benefited the workers, but it hasn’t tried to do that in about 40 years.

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Additional ridiculousness-the GDP would have had to be a sustained 5+% for the tax cuts to pay for themselves. Republicans truly suck at math.

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The problems are that they didn’t cut taxes enough, and they didn’t cut spending.

Because that’s how you grow an economy. By taking a bunch of money out of it.

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I would argue they are fine with math. They just wanted the cuts and know their supportors would be fooled or wouldn’t care.

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They will repeat the same lies next time as well and their worshippers will believe amd repeat them too…

They literally will never learn…

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I’m wondering what will happen in the next recession when the revenues go down and there are 2 trillion dollar deficits.

Seriously. We may never recover from these cuts.

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They’ve already showed their playbook. They will go after cuts in SS, Medicare and Medicaid. They’ve explicitly said that’s next.

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Yeah, President Obama tried cutting Social Security but his base balked at it. I don’t think they’re going to be able to do that.

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My husband and I won’t need SS at all so I hope the Republicans cut it big time. I’m also 100% sure no Republican will need their SS either because they aren’t lazy like most Democrats.

There are also no Republicans on Medicaid or who would need Medicare. They all have enough income to self insure after they turn 65.

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I am Gen X… I have been planning like SS won’t be there since I was in my early 20’s.

A good section of GOP Boomers have done everything that they can to ensure that they will be the last to enjoy the benefits of the Social Safety nets by avoiding to do anything about a problem that has been known is going to happen for the last 30 years… but really become a problem after they had died.

Beginning to see a pattern here.

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