Gingrich Tax Plan Would Add $1.3 Trillion to Deficit

[Trajan]

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.
By that "logic" if you reduce revenue to zero, revenues increase to infinity.

and conversely if you increase taxs to 100%?

 

[Trajan]

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

correct me if I am wrong, but you are onboard with the 2% fica rebate...right?

 

[Flopper]

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

correct me if I am wrong, but you are onboard with the 2% fica rebate...right?

Yes. The cost to extend the payroll tax cut is 120 billion about one tenth of what Newt is proposing.

 

[The Rabbi]

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

correct me if I am wrong, but you are onboard with the 2% fica rebate...right?

Yes. The cost to extend the payroll tax cut is 120 billion about one tenth of what Newt is proposing.

A billion here, a billion there, pretty soon you're talking about real money.

 

[georgephillip]

Who are the job creators?

Are venture capitalists or consumers more important to funding new jobs"

"Today in Bloomberg Businessweek, Nick Hanauer, a sucessful venture capitalist who has helped launch more than 20 companies, including Amazon.com, writes an op-ed that demolishes the myth that the rich are 'job creators' and that we should never raise their taxes.

In his op-ed Nick likens the belief the rich create jobs to another misconception held by humanity centuries ago, namely the sun circles the earth which is the center of the universe. "It doesn't and we aren't."

"Consider, for example, that a puny 3 percent surtax on incomes above $1 million would be enough to maintain and expand the current payroll tax cut beyond December, preventing a $1,000 increase on the average worker’s taxes at the worst possible time for the economy.

"With a few more pennies on the dollar, we could invest in rebuilding schools and infrastructure.

"And even if we imposed a millionaires’ surtax and rolled back the Bush- era tax cuts for those at the top, the taxes on the richest Americans would still be historically low, and their incomes would still be astronomically high.

"We’ve had it backward for the last 30 years.

"Rich businesspeople like me don’t create jobs. Middle-class consumers do, and when they thrive, U.S. businesses grow and profit. That’s why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich."

One Percenter: Tax The Rich Because People Like Me Don't Create Jobs, The Middle Class Does | ThinkProgress

 

[ClosedCaption]

Whenever one of those repub plans turn out to be shit republicans have a funny defense / rationale for being "pro" that bad idea. Ryan and Cain were both "admired" by those on the right for "at least having a plan". I assume they admire everyone for sply having a plan no matter how stupid it is. That's why I expect my rep power to go through the roof once I show my plan for rocket shoes!! Tape a rocket to your shoes! Admire me!

 

[Trajan]

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

correct me if I am wrong, but you are onboard with the 2% fica rebate...right?

Yes. The cost to extend the payroll tax cut is 120 billion about one tenth of what Newt is proposing.

I didn't ask you what the cost was sir, I just asked if you were on-board. BUT thx for qualifying your political stance, I mean your point and to which I say;

not Bushs not obamas not anyones rebates or 'Tax Holidays' have EVER worked as a job stimulator.

BUT a 10 year permanent tax is called for to fund it, all the while knowing, I mean even Obamas 'economists' must have told him, that they will only realize the money they think they will from these evil rich MFers, for maybe 2 years, tops.

There after, the evil rich MFers will change what they have to change so as to shield as much of their investments, transactions and incomes as possible....BUT the these evil rich MFers will have had it stuck to them, those evil rich MFers, because thats all that really counts.


Fun Fact- We are scheduled to spend more money this year than we did last year.

Yup, after all of the hemming hawing and BS. And, we are still at this very moment borrowing 40 cents on every single dollar we need to run the gov.

 

[Seawytch]

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

More tax breaks to the ultra rich? Way to go Newtie! That's doing what the American people want! (and these people think they will beat President Obama with this crap)...