The sad part is that leftwingers think they can spout this drivel and get away with it.
http://www.realclearmarkets.com/art...the_left_explain_last_eight_years_103005.html
In a recent column for the New York Times, David Leonhardt observed about the Republican tax bill proposal that it's a "dreadful piece of policy. It would cause the deficit to soar and, as a result, probably reduce economic growth. It would also raise taxes for millions of middle-class families.” While the economics of the tax cut bill aren't optimal, they are much better than the current code. What would improve the bill dramatically would be significant cuts to both the top individual rates and the tax on capital gains.
What is dreadful is Leonhardt's understanding of economics. He starts with a standard talking point from the static modeling camp, “Tax cuts will cause the deficit to soar." The simple truth is that deficits occur because governments spend more money than they collect in tax revenue. The federal overnment has a forecast of how much tax revenue it will collect each year. It also has a detailed spending plan. This means that when the government runs a deficit that it's planning on running a deficit.
http://www.realclearmarkets.com/art...the_left_explain_last_eight_years_103005.html
In a recent column for the New York Times, David Leonhardt observed about the Republican tax bill proposal that it's a "dreadful piece of policy. It would cause the deficit to soar and, as a result, probably reduce economic growth. It would also raise taxes for millions of middle-class families.” While the economics of the tax cut bill aren't optimal, they are much better than the current code. What would improve the bill dramatically would be significant cuts to both the top individual rates and the tax on capital gains.
What is dreadful is Leonhardt's understanding of economics. He starts with a standard talking point from the static modeling camp, “Tax cuts will cause the deficit to soar." The simple truth is that deficits occur because governments spend more money than they collect in tax revenue. The federal overnment has a forecast of how much tax revenue it will collect each year. It also has a detailed spending plan. This means that when the government runs a deficit that it's planning on running a deficit.
