With dynamic scoring, the Trump tax cuts would sail right through.
.. hats off to Senate Majority Leader Mitch McConnell for doing some swamp-draining when he exercised the “nuclear option” to overturn the filibuster for Supreme Court justices. McConnell busted an old 19th century rule, which was never in the Constitution
.. hats off to Senate Majority Leader Mitch McConnell for doing some swamp-draining when he exercised the “nuclear option” to overturn the filibuster for Supreme Court justices. McConnell busted an old 19th century rule, which was never in the Constitution
.. the scorekeepers are happy with tax hikes, allegedly to balance the budget. But tax hikes depress economic growth, which reduces GDP. And with a smaller income base, actual revenues decline, simply because most everybody is worse off.
.. only full employment can balance the budget, and tax reduction can pave the way to that employment.”
.. only full employment can balance the budget, and tax reduction can pave the way to that employment.”
.. only full employment can balance the budget, and tax reduction can pave the way to that employment.”
.. The CBO estimates real economic growth over the next ten years will continue to stagnate at a 1.8 percent annual pace.
.. How about a 3 percent growth rate over the next ten years? It’s still below America’s long-run average. But if you slash tax rates, particularly on large and small business, it is reasonable to assume more investment, new companies, profits, productivity, wages, and job creation
.. an economy growing at 3.1 percent per year would generate $4.5 trillion more revenues than an economy growing at 1.8 percent. $4.5 trillion.
..if Mike Enzi, chairman of the Senate Budget Committee, decides to use dynamic scoring, the Trump tax-cut proposals would sail through.
Why Marco Rubio is insisting that his massive tax cuts will pay for themselves, explained
Conservatives hate taxes, they dislike deficits, and they’re scared of spending cuts. Dynamic scoring is the answer.
The basic idea here is that massive tax cuts boost growth so much that they pay for themselves, and so there’s no actual trade-off between lower taxes and balanced budgets. In this telling, eating your cake leads your body to burn calories so fast that it’s like you end up thinner than you started!
.. As Jonathan Chait wrote, the skeptical reception Rubio’s plan got among many on the right spoke to a problem almost without precedent in the modern GOP: Rubio had designed a tax cut “so gargantuan that nobody in the party actually believes it.”
.. While Rubio gives some lip service to deficit reduction — he later tells Harwood that balancing the budget will require entitlement reform, not just tax reform — he clearly cares a lot more about the tax cuts than about the deficit reduction, just as Bush did.