Gingrich Tax Plan Would Add $1.3 Trillion to Deficit

What's so wrong about reducing government collections?
Is that what our government is- a fucking collection agency?

In the area of funding it's operations, yes.

Gingrich's plan is piss-poor because it's a bet, a gamble. He's assuming that the economy will surge after these tax breaks, resulting in more government revenue. But what happens if it doesn't? What happens when the economy remains stagnant because the middle class still has no money to spend, regardless of how low the top individual tax rate is? Our economy, and our deficit, are in way too much trouble right now to attempt to fix them by pandering to the rich and gambling.

If Gingrich, or any politician, was truly serious about jobs and the deficit, than they would end all free-trade agreements. That would help to bring jobs back and end tax loopholes.
 
That what you git when you offer ZERO cuts... Newt is a massive Progressive, he wants massive Government but no taxes....... Newt wants massive war but no taxes...... LOLz~

How stupid do you have to be a Newt supporter at this point???

"Anyone but Obama!!!" So that means it's ok that some people support fucking retards for President?
 
Gingrich's first and only real job besides being a politician and a lobbyist was as a college professor. If he had not been denied tenure, he might still be there proposing novel approaches to the world's problems. But now he's likely to be the next presidential candidate proposing more novel ideas. What the country needs is proven ideas to solve our problems, not hair brain schemes from a political philosopher.

By contrast the Congress worked for months trying to come up with a plan to cut the deficit 1.2 trillion dollars over 10 years and they failed. Newt now offers a plan that will add 1.3 trillion to the deficit in just one year. If his tax plan is successful, he goes down in history as a great president. If his plan fails, the country goes into an economic nightmare that it might never recover.
 
That what you git when you offer ZERO cuts... Newt is a massive Progressive, he wants massive Government but no taxes....... Newt wants massive war but no taxes...... LOLz~

How stupid do you have to be a Newt supporter at this point???

"Anyone but Obama!!!" So that means it's ok that some people support fucking retards for President?

not quite as stupid as an old under the eyes baggy paul supporter.
 
I'm sure Newt will be along soon to explain why this outfit is, like the CBO, a socialist institution that fundamentally doesn't understand economic growth.

The fact that Newt Gingrich is the leading Republican candidate is sad.
 
The tax plan proposed by Republican presidential candidate Newt Gingrich would add $1.3 trillion to the U.S. budget deficit in 2015 alone, a new analysis shows, complicating his goal of balancing the government’s books.

So if we can't cut spending we'll cut taxes??

Gingrich Tax Plan Would Add $1.3 Trillion to Deficit, Study Says - Bloomberg

So, cutting spending by $1.3 Trillion would only put us right where we are right now in terms of the debt if these tax cuts fail to generate one HELL of a lot of economic activity.
 
The tax plan proposed by Republican presidential candidate Newt Gingrich would add $1.3 trillion to the U.S. budget deficit in 2015 alone, a new analysis shows, complicating his goal of balancing the government’s books.

So if we can't cut spending we'll cut taxes??

Gingrich Tax Plan Would Add $1.3 Trillion to Deficit, Study Says - Bloomberg

How does he plan to pay for the tax cuts?
Didn't you know, tax cuts pay for themselves. The more you cut revenue the more revenue increases.:cuckoo:
By that "logic" if you reduce revenue to zero, revenues increase to infinity. :badgrin:
 
Gingrich's first and only real job besides being a politician and a lobbyist was as a college professor. If he had not been denied tenure, he might still be there proposing novel approaches to the world's problems. But now he's likely to be the next presidential candidate proposing more novel ideas. What the country needs is proven ideas to solve our problems, not hair brain schemes from a political philosopher.

By contrast the Congress worked for months trying to come up with a plan to cut the deficit 1.2 trillion dollars over 10 years and they failed. Newt now offers a plan that will add 1.3 trillion to the deficit in just one year. If his tax plan is successful, he goes down in history as a great president. If his plan fails, the country goes into an economic nightmare that it might never recover.

Obama's first real job was...wait, he never had a real job.
Obama appointed the Simpson-Bowles commission to recommend cuts. They did. He's ignored them ever since. the GOP has proposed plan after plan and the Democrats block it in the Senate.
A measly 1.2T is nothing. Obama can spend that in a month.
 
Gingrich's first and only real job besides being a politician and a lobbyist was as a college professor. If he had not been denied tenure, he might still be there proposing novel approaches to the world's problems. But now he's likely to be the next presidential candidate proposing more novel ideas. What the country needs is proven ideas to solve our problems, not hair brain schemes from a political philosopher.

By contrast the Congress worked for months trying to come up with a plan to cut the deficit 1.2 trillion dollars over 10 years and they failed. Newt now offers a plan that will add 1.3 trillion to the deficit in just one year. If his tax plan is successful, he goes down in history as a great president. If his plan fails, the country goes into an economic nightmare that it might never recover.

Obama's first real job was...wait, he never had a real job.
Obama appointed the Simpson-Bowles commission to recommend cuts. They did. He's ignored them ever since. the GOP has proposed plan after plan and the Democrats block it in the Senate.
A measly 1.2T is nothing. Obama can spend that in a month.

Awww, you all make me so happy I'm a Paul fan... It's nice to not have to play the game of "OH YEAH!!!!" every time it's pointed out how horrid of a candidate you support.

I get people like willo who have real insults, like "Baggy eyed Paul!" or Gramps with "Paul wants Iran to have a nuke!" or 44 who says "Paul thinks we deserved 9/11!"... You know, made up on the spot talking points to Troll the internet with, nothing that can be backed up with a quote or video…

I get the candidate that actually has cuts to balance the budget and the deficit, who actually has the tax cuts and a record to prove their positions... None of this "I will shrink Government!" with a record of growing government on massive scaled.

Paul served in the in the Air force, actually had a job and owned his own business... Just amazing the difference between the "wanabe conservatives" like Newt and a real conservative like Paul... But I'm sure some nutty for Newt supporter is ready to blast Paul for being an "isolationist!" Too bad they don't even know what the word they just used means, lol.
 
Last edited:
Ron Paul ain't got jack shit except a bunch of ideas that will never get implemented and a crowd of kool-aid drinking Wookie Suiters who think he's the messiah.
 
The "Tax Policy Center" is a joint project of two liberal think tanks, the Brookings Institution and the Urban Institute. What did you expect them to report? :lol:
 
The proposal to give people the choice to use the old tax system or some new system that Newt - and Perry, and I think Ryan - have proposed is fucking idiotic.

If they want to change the tax code, change the bloody tax code. Don't give us this pussy two systems shit. It's retarded.
 
The tax plan proposed by Republican presidential candidate Newt Gingrich would add $1.3 trillion to the U.S. budget deficit in 2015 alone, a new analysis shows, complicating his goal of balancing the government’s books.

So if we can't cut spending we'll cut taxes??

Gingrich Tax Plan Would Add $1.3 Trillion to Deficit, Study Says - Bloomberg

How does he plan to pay for the tax cuts?
This huge windfall for the wealthy will give them a huge amount of capital for investment. The problem with this thinking is their is no shortage of money for investment. Large US corporations are sitting on over a trillion dollars in cash. Interest rates and individual taxes are at historic lows.

To make up a lose of 1.3 trillion dollars/yr in revenue, at these tax rates real GDP would have to rise 60%. GDP growth would have to remain above 5% for over 10 years, something that has never happened.
 
Last edited:
"Most of this explosion of debt in Newt’s plan occurs because he slashes taxes. But not just anyone’s taxes. The lion’s share of Newt’s tax cuts benefit the very, very rich.

"That’s because he lowers their marginal income tax rate to 15 percent – down from the current 35 percent, which was Bush’s temporary tax cut; down from 39 percent under Bill Clinton; down from at least 70 percent in the first three decades after World War II.

"Newt also gets rid of taxes on unearned income – the kind of income that the super-rich thrive on – capital-gains, dividends, and interest.

"Under Newt’s plan, each of the roughly 130,000 taxpayers in the top .1 percent – the richest one-tenth of one percent – reaps an average tax cut of $1.9 million per year. Add what they’d otherwise have to pay if the Bush tax cut expired on schedule, and each of them saves $2.3 million a year.

"To put it another way, under Newt’s plan, the total tax bill of the top one-tenth of one percent drops from around 38 percent of their income to around 10 percent.

"What about low-income households? They get an average tax cut of $63 per year.

"Oh, I almost forgot: Newt also slashes corporate taxes."

Newt
 

Forum List

Back
Top