kiwiman127
Comfortably Moderate
"The outline would reduce federal tax revenue by roughly $2.4 [trillion] over the next decade, nearly the same as under conventional scoring," the Tax Policy Center's Howard Gleckman wrote in a blog post on the matter.
In the second decade, the center added, revenues would fall by $3.4 trillion.
"While the Framework's tax rate cuts would generate new economic activity at first, those growth effects would be washed out in a few years by the effects of higher budget deficits. Because the federal government would have to borrow more to finance the tax cuts, less money would be available for private investment," Gleckman wrote.
Study: GOP tax plan would cost $2.4 trillion
So, we already know that Congress voted to add $1.5 trillion to the National Debt. That wasn't figuring in an additional $2.4 trillion shortfall in incoming revenue or another $3.4 trillion shortfall in the next decade.
This is just great, we are already still paying for the tax cuts implemented during the last decade.
Tell me our current crop of alleged conservatives are fiscally conservative and I'll laugh in your face.
In the second decade, the center added, revenues would fall by $3.4 trillion.
"While the Framework's tax rate cuts would generate new economic activity at first, those growth effects would be washed out in a few years by the effects of higher budget deficits. Because the federal government would have to borrow more to finance the tax cuts, less money would be available for private investment," Gleckman wrote.
Study: GOP tax plan would cost $2.4 trillion
So, we already know that Congress voted to add $1.5 trillion to the National Debt. That wasn't figuring in an additional $2.4 trillion shortfall in incoming revenue or another $3.4 trillion shortfall in the next decade.
This is just great, we are already still paying for the tax cuts implemented during the last decade.
Tell me our current crop of alleged conservatives are fiscally conservative and I'll laugh in your face.