mercury14
Pragmatic Metaphysician
- Joined
- Jul 8, 2009
- Posts
- 22,158
One-third of the stimulus is tax cuts, or about $258 billion. So now republicans suddenly say it makes sense to call cutting taxes "government spending".
Okay fine. The GOP party platform is now to increase spending. Got it.
Meanwhile, the Bush tax cuts cost $1.8 TRILLION according to Nobel economist Paul Krugman. This includes the cost of financing the debt incurred by these cuts, since the Republicans never bothered to pay for any of this.
Furthermore, "over the next decade (2009-2018), making the tax cuts permanent would cost $4.4 trillion, assuming that the tax cuts remain deficit-financed." And of course they would be debt-financed.
Heritage Foundation demigod Brian Reidl claims that about 25% of that $1.8 trillion could be shaved off when you account for increased economic activity from the tax cuts. So $1.35 trillion.
Source: http://www.politifact.com/truth-o-m...l-krugman/bush-tax-cuts-health-care-probably/
So using the Republican's own rationale here, they increased government spending by either $1.35 trillion or $1.8 trillion dollars over the technical figure. And now they're advocating (still advocating) for making the Bush tax cuts permanent, leading to another $4.4 Trillion in spending over a mere ten year period.
Is there a way for the GOP to be more hypocritical?
Okay fine. The GOP party platform is now to increase spending. Got it.
Meanwhile, the Bush tax cuts cost $1.8 TRILLION according to Nobel economist Paul Krugman. This includes the cost of financing the debt incurred by these cuts, since the Republicans never bothered to pay for any of this.
Furthermore, "over the next decade (2009-2018), making the tax cuts permanent would cost $4.4 trillion, assuming that the tax cuts remain deficit-financed." And of course they would be debt-financed.
Heritage Foundation demigod Brian Reidl claims that about 25% of that $1.8 trillion could be shaved off when you account for increased economic activity from the tax cuts. So $1.35 trillion.
Source: http://www.politifact.com/truth-o-m...l-krugman/bush-tax-cuts-health-care-probably/
So using the Republican's own rationale here, they increased government spending by either $1.35 trillion or $1.8 trillion dollars over the technical figure. And now they're advocating (still advocating) for making the Bush tax cuts permanent, leading to another $4.4 Trillion in spending over a mere ten year period.
Is there a way for the GOP to be more hypocritical?
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