Republican tax plan would help the rich while ballooning the deficit

[TomCADem]

Source: St Louis Today

Republicans used to think of themselves as the party of fiscal responsibility, but that label clearly is outdated.

A nine-page “framework” for tax changes endorsed by the White House and congressional leaders makes that clear. Abandoning earlier talk of deficit-neutral tax reform, Republicans have made clear that they want to slash tax rates without closing enough loopholes to pay for the cuts.

A draft budget resolution in the Senate would allow tax cuts to inflate the national debt by $1.5 trillion over a decade. A couple of independent analyses say the Republican framework might be an even bigger budget-buster than that.

The Committee for a Responsible Federal Budget puts the 10-year cost at $2.2 trillion. The Tax Policy Center estimates that the tax outline would reduce revenue by $2.4 trillion over the next 10 years and $3.2 trillion in the decade after that.

Read more: http://www.stltoday.com/business/columns/david-nicklaus/republican-tax-plan-would-help-the-rich-while-ballooning-the/article_b3c72c0d-7357-53a1-9855-763b1dba1440.html

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What happened to all the Republican talk about the US being in a debt crisis?

[Wounded Bear]

1. What happened to all the Republican talk about the US being in a debt crisis?

Don't be silly. That only matters when Dems are in charge.

[Turbineguy]

2. Debt is no problem

as long as you spend the money on war or give it to the rich.

That's why we elect republicans. We like being economically wiped out from time to time.

[subterranean]

3. Just like the tax cuts under the two previous R presidents.

I don't know why anyone would expect anything different this time.

[Wounded Bear]

4. Indeed...

It went from Reaganomics to Voodoo Economics, and now it's Zombie Economics.

[Bengus81]

5. You can also throw in Kansas Brokeback Economics........

Our idiot Gov from Kansas who gave Corporations the ultimate kiss...a ZERO percent tax rate. Now...after four years we have a budget shortfall of about a BILLION $$$ and everyone else got TWO sales tax increases foisted on them.

More FAILED trickle down..........

[BumRushDaShow]

6. It's like getting a cash advance on your credit card

and then forking it over to the 1% so they can take a winter vacation in Aspen AND have enough for another ski junket in the Swiss Alps.

[bluestarone]

7. get ready to return

to the Bush time frame where it took Clinton to save our ass (biggest debtor nation to biggest Credit nation) here we go again BUT i fear this one will be unchangeable. Moron and his congress will really do us in

[Irish_Dem]

8. It is what they always do. GOP empties the piggy bank, Dems have to refill it.

When in power, the GOP basically backs up their trucks to the US treasury and takes it all.
Dems replenishes the coffers. The propaganda machine tells us the opposite.

[Trust Buster]

9. This is by design folks. When a Democrat is president, they only care about stopping his agenda.

When a Republican is president, they repay their campaign donors exceptionally well and purposefully create a large deficit in the process. Once they have starved the government of revenue, they can divide those who receive government assistance from the rest of america and claim that these programs need to be cut because of the deficit in which they ironically created. In Republican circles this strategy is referred to as “Starving the Beast”. This is not hypocrisy. This is their long held strategy folks.