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Old 11-09-2017, 01:28 PM   #1
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Default House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

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The tax reform plan crafted by House Republicans would add $1.7 trillion to the debt over the next decade, according to a brief analysis released Wednesday by the nonpartisan Congressional Budget Office (CBO).

The projection could be a problem for Republicans because they are using special budget reconciliation rules to avoid a 60-vote threshold in the Senate and those rules required that the bill only increase the federal debt by $1.5 trillion over 10 years.

House Republicans unveiled their tax overhaul last week, and have been marking up their legislation in committee this week. Senate Republicans have not released their proposal yet. Several GOP lawmakers in the House have already come out against their colleagues' plan.

The plan would reduce tax rates for low and middle-income Americans and doubles the standard deduction from $6,350 to $12,000 for individuals and $12,700 to $24,000 for married couples. The bill would eliminate certain taxes, like the Alternative Minimum Tax and the so-called "death tax."...

...It would lower the corporate tax rate to 20 percent, which the talking points say are the largest reduction for the U.S. corporate tax rate in history. It would also lower the tax rate on "hard-earned business income of Main street job creators" to no more than 25 percent, the talking points say... More ... (CBS News/MSN - 8 Nov 2017)

RELATED: Senate bill to unwrap with tax cuts, end to local deduction ... (AP - 9 Nov 2017)
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BELOW: The House Committee on Ways and Means Chairman Rep. Kevin Brady, R-Texas, speaks during a meeting on Capitol Hill in Washington, Tuesday, March 28, 2017.

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Old 11-09-2017, 04:01 PM   #2
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

The CBO is a leftist, deep state org that is all in for big government. Their assessments are always shady, on the communist side of things.
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Old 11-09-2017, 04:28 PM   #3
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

Quote: Originally Posted by Fred O'Malley View Post

The CBO is a leftist, deep state org that is all in for big government. Their assessments are always shady, on the communist side of things.

We can always depend on the Republicans to float a tax reduction proposal that significantly lowers incomes taxes for corporations and already wealthy individuals.

I'm all for lower taxation, but believe balancing the budget, then eliminating the deficit, should be the first priority. Fiscal responsibility, I think it's called.
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Old 11-09-2017, 04:33 PM   #4
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

When Reagan lowered taxes in the 80s, tax revenue nearly tripled. They know low taxes brings in more money, the left intent on communism, which makes all people captives of the state.

There is far more to tax formulas and deficits than meets the eye. Spending is the big problem. Trump understands the problems better than almost any of them, save Ron Paul. This tax reduction is very advantageous to the people.
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“The future has several names.
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"The left's arrogance is only surpassed by their narcissism and coveting others' earnings"
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Old 11-09-2017, 04:41 PM   #5
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

__________________
MAKE AMERICA STRAIGHT AGAIN BLACK CRIMES MATTER
“Either you are going to do politics, or politics is going to do you!”
Hard times create strong men. Strong men create good times.
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“The future has several names.
For the weak, it is impossible; for the fainthearted, it is unknown;
but for the valiant, it is ideal.”
"The left's arrogance is only surpassed by their narcissism and coveting others' earnings"
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Old 11-09-2017, 04:48 PM   #6
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

Quote: Originally Posted by Fred O'Malley View Post

When Reagan lowered taxes in the 80s, tax revenue nearly tripled. They know low taxes brings in more money, the left intent on communism, which makes all people captives of the state.

There is far more to tax formulas and deficits than meets the eye. Spending is the big problem. Trump understands the problems better than almost any of them, save Ron Paul. This tax reduction is very advantageous to the people.

I believe the record shows that Reaganomics increased the deficit. It's a curious thing indeed that the last time the US government's budget was balanced was when George W Bush inherited the surplus from Bill Clinton's presidency. It's never the best option to pay interest on debt if it can be avoided. Those dollars can be used to further prosperity, not line the pockets of jewish bankers.

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Old 11-09-2017, 04:51 PM   #7
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

Bill Clinton enjoyed the benefits of Reagan's work and also stole the social security trust fund to make himself look good. Things aren't what they seem. Newt Gingrich forced Clinton to balance the budget.

To be honest, I don't give a shit if the gov has enough money, when they haven't the courage to cut spending. I hope they go belly up.
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MAKE AMERICA STRAIGHT AGAIN BLACK CRIMES MATTER
“Either you are going to do politics, or politics is going to do you!”
Hard times create strong men. Strong men create good times.
Good times create weak men. Weak men create bad times.
“The future has several names.
For the weak, it is impossible; for the fainthearted, it is unknown;
but for the valiant, it is ideal.”
"The left's arrogance is only surpassed by their narcissism and coveting others' earnings"
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Old 11-09-2017, 05:00 PM   #8
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

Quote: Originally Posted by Fred O'Malley View Post

Bill Clinton enjoyed the benefits of Reagan's work and also stole the social security trust fund to make himself look good. Things aren't what they seem. Newt Gingrich forced Clinton to balance the budget.

Ahem... It was the US Congress during LBJ's administration who stole the Social Security trust fund to finance the "Great Society."

But by all means, if there was a bigger nincompoop as US president than Lyndon Johnson, please tell me who that would be... besides Abraham Lincoln, I mean.

Quote: Originally Posted by Fred O'Malley View Post

To be honest, I don't give a shit if the gov has enough money, when they haven't the courage to cut spending. I hope they go belly up.

Congress will never default on the debt, they'll just keep raising the debt ceiling, and very quietly. It'll be up to the people to convene a constitutional convention if the budget is ever balanced again and the deficit is ever paid down. The balanced budget amendment failed by one vote because the MSM was successful in convincing the voters that Congress would return to responsible spending without it. So much for that fairly tale.
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Old 11-09-2017, 05:04 PM   #9
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

Ortiz and Moore: Trump Tax Plan a Win for Small Businesses and Workers
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MAKE AMERICA STRAIGHT AGAIN BLACK CRIMES MATTER
“Either you are going to do politics, or politics is going to do you!”
Hard times create strong men. Strong men create good times.
Good times create weak men. Weak men create bad times.
“The future has several names.
For the weak, it is impossible; for the fainthearted, it is unknown;
but for the valiant, it is ideal.”
"The left's arrogance is only surpassed by their narcissism and coveting others' earnings"
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Old 11-09-2017, 05:04 PM   #10
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Default Re: House GOP tax plan would add $1.7 trillion to debt over decade, CBO projects

GOP Should Retroactively Cut Taxes for Fiscal Year 2017
__________________
MAKE AMERICA STRAIGHT AGAIN BLACK CRIMES MATTER
“Either you are going to do politics, or politics is going to do you!”
Hard times create strong men. Strong men create good times.
Good times create weak men. Weak men create bad times.
“The future has several names.
For the weak, it is impossible; for the fainthearted, it is unknown;
but for the valiant, it is ideal.”
"The left's arrogance is only surpassed by their narcissism and coveting others' earnings"
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