Posts Tagged ‘Dynamic Scoring’

It’s Magic! Trump’s Tax Cut Will Pay for Itself.

April 27, 2017

It's Magic! Trump’s Tax Cut Will Pay for Itself.

On Wednesday the Trump Administration rolled out its Tax Plan, less a ‘plan’ than a plutocrat’s wet dreamCorporate tax rate slashed, huge new pass-through business loophole opened, giveaways to wealthy heirstaxes for the rich slashed and their nannies and mansions subsidized through tax deductions.

This won’t produce a federal revenue shortfall, the Tax Fairy promises; tax cuts for the wealthy will pay for themselves.  How? Magic! The same magic that worked so well during the 30 years of the GOP’s trickle-down, deregulating, big-corporate, no-taxes-for-the-rich philosophy, the failed policies that crashed the world economy when Republican leadership was last inflicted upon the nation, making the rich even wealthier at the expense of the rest.

More:

“Trump’s treasury secretary: The tax cut ‘will pay for itself,'” Damian Paletta and Max Ehrenfreund, Washington Post

“Mnuchin: Our Tax Cuts for the Rich Are Not About Cutting Taxes for the Rich,” Jonathan Chait, New York Magazine

“The New GOP Math: ‘Dynamic Scoring’ Doesn’t Add Up.” NotionsCapital

Update:

“37 top economists all say Trump’s tax plan won’t pay for itself,” Alexia Fernández Campbell, Vox

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Short link: http://wp.me/p6sb6-pF5

Image by Mike Licht (with apologies to The Great Karlini, Ludwig Trinka). Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not obscene. Comments may be edited for clarity and length.

The New GOP Math: ‘Dynamic Scoring’ Doesn’t Add Up.

January 7, 2015

The New GOP Math: 'Dynamic Scoring' Doesn't Add Up.

Republicans now rule Congress, so the House of Representatives has a new rule: “Above All, Do No Math.” From now on, there’s no problem that can’t be solved by cutting taxes for rich people and corporations. The GOP calls this “Dynamic Scoring,” but others have called it “Voodoo Economics” and “Magical Thinking.” Why? Because it doesn’t work. Paul Ryan wants to call it “Reality-Based Scoring,” but clearly he lives in an Alternate Reality.

The assumption underlying “Dynamic Scoring” is the “Trickle-Down Theory” of economics. In a pre-automobile age this was called the “Horse-and-Sparrow Theory,” because if you fed your horse enough oats surely some would filter through the horse, fall on the road, and feed the sparrows. Then as now, this produces pitifully few oats but a whole lot of horsecrap.

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Happy New Year for the One Percent

January 1, 2015

Happy New Year for the One Percent
Happy New Year, rich people. The GOP Congress is in and the laws of mathematics are out, so the fix is in for people of wealth. Poor and middle class wage earners will pay for even more tax cuts for The One Percent. Ring out Neo-Conservatism and ring in Neo-Feudalism!

More:

“Sorry, GOP, tax cuts don’t pay for themselves,” Joel Dodge, The Week

“Behold, the magic kingdom of dynamic scoring,” Froma Harrop, Seattle Times

“Republicans’ magical thinking is immune to the facts,” Robert B. Reich, Baltimore Sun

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Short Link: http://wp.me/p6sb6-kI7

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht,NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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