STUDY: Tax plans proposed by Romney, Santorum & Gingrich would explode national debt by trillions

[Tx4obama]

Report: Debt will swell under top GOP hopefuls’ tax plans

The national debt is likely to balloon under tax policies championed by three of the four major Republican candidates for president, according to an independent analysis of tax and spending proposals so far offered by the candidates.

The lone exception is Texas Rep. Ron Paul, who would pair a big reduction in tax rates with even bigger cuts in government services, slicing about $2 trillion from future borrowing.

According to the report — set for release Thursday by U.S. Budget Watch, a project of the bipartisan Committee for a Responsible Federal Budget — former Pennsylvania senator Rick Santorum and former House speaker Newt Gingrich would do the most damage to the nation’s finances, offering tax and spending policies likely to require trillions of dollars in fresh borrowing.

Both men have proposed to sharply cut taxes but have not identified spending cuts sufficient to make up for the lost cash, the report said. By 2021, the debt would rise by about $4.5 trillion under Santorum’s policies and by about $7 trillion under those advocated by Gingrich, pushing the portion of the debt held by outside investors to well over 100 percent of the nation’s economy.

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Full article here: http://www.washingtonpost.com/business/economy/report-debt-will-swell-under-top-gop-hopefuls-tax-plans/2012/02/22/gIQAzAJvUR_story.html?wpisrc=al_comboNP

[Wait Wut]

1. Great news!

But, this, "The lone exception is Texas Rep. Ron Paul, who would pair a big reduction in tax rates with even bigger cuts in government services, slicing about $2 trillion from future borrowing." made me nervous.

I don't wanna pave my own streets and I can't drive a fire truck.

[tanyev]

2. Naw, he'll keep some fire trucks.

But you'd better have lots of time available to home-school your children.

[Confusious]

3. But their and their buddies pocketbooks

Would balloon, and get them the votes of the rubes, so 'full steam ahead, over the cliff boys!'!

[applegrove]

4. Think of the government cuts that would have to take place to pay for those tax cuts. The GOP

must be Grovergasmic at the thought.

[Sarah Ibarruri]

5. These sick Repuke assholes won't quit until the U.S. is a third world nation nt

[Kurmudgeon]

6. Of course it would, that's what Republicans DO!!!