Quote:
Originally Posted by Neal Stevens
Wait, how is that lame???? 
Cutting taxes? Yes, it's my money, not yours. You want to contribute extra to the federal govt, go for it. You have no right to induce others to do the same.
Cutting spending? Sure, who says there's not enough govt spending?
Balance the budget?  |
I was using bullet points to summarize a 70+ page document. The GOP plan uses these three familiar slogans which no one can really say they are against, but which mean nothing in practice. Let's look at the plan.
1. Tax Cuts: the theory behind cutting taxes is that individuals/businesses will use the savings to reinvest and create additional jobs and economic growth. This has been tried under Reagan and Bush jr, but no one can say the economic situation in the USA has been growing increasingly better in the past 30 years. The Republican solution is usually to say that we have to try even deeper cuts.
However, the reality is that most economic activity in the world is controlled by multinational corporations which already pay little or no tax since they can shift most of their taxable income to tax havens. They shift their production to low cost jurisdictions which the USA no longer is. A tax cut would not bring them back to the USA.
2. Cutting Spending: it sounds good, but there are no real cuts in the GOP plan. Real cuts means cutting programs or services which does not appear here.
3. Balanced Budget. Just like Mom&apple pie, no one can be against this, but if you cut taxes without really cutting spending, how can you balance the budget? The only way, which is what they do here is by grossly overestimating future revenues while underestimating future spending.