Posts Tagged ‘tax plan’

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

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Herman Cain’s Tax Plan IS a Game, After All

October 17, 2011

Herman Cain's Tax Plan IS a Game, After All

Critics, especially those who can do math, think Herman Cain’s “9-9-9” tax plan is just a catchy slogan. Jon Huntsman thinks it’s the price of pizza. Nonsense. The 9-9-9 plan is just a game. A computer game. Sim City 4, to be precise.

As reporter Amanda Terkel first realized, when players participating in the city simulation begin planning taxes for their mock municipality, the game setup starts commercial, industrial, and residential taxes at 9% rates, remarkably similar to Mr. Cain’s. Gamers use the 9% defaults to figure out rates that will actually work because, even in cyberspace, “9-9-9” doesn’t cut it.

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