Their tax plan reflect the wishes of those who own them, the billionaires who see any tax upon their wealth as a drain.
Haven't we already seen how well their tax cut plans work in Kansas?
2
Forget Voodoo Economics, this is Witchcraft Economics.
The next debate should be in Salem, MA. Spectral evidence deserves to be evaluated in a town where it was last presented 300 years ago.
The next debate should be in Salem, MA. Spectral evidence deserves to be evaluated in a town where it was last presented 300 years ago.
2
If any one of these guys gets in we're doomed.
The Great Recession that began under W was actually the start of a Depression (yes, capital "D") which was beginning to spin completely out of control. Amazingly, the Obama Administration contained it and got it out of the Capital D zone.
It would not be possible to recover from another Republican administration.
After all, we are currently not in as strong a position as we were at the end of William Jefferson Clinton's administration.
Truly, that was the Age of Prosperity.
The Great Recession that began under W was actually the start of a Depression (yes, capital "D") which was beginning to spin completely out of control. Amazingly, the Obama Administration contained it and got it out of the Capital D zone.
It would not be possible to recover from another Republican administration.
After all, we are currently not in as strong a position as we were at the end of William Jefferson Clinton's administration.
Truly, that was the Age of Prosperity.
1
It becomes more and more apparent that the GOP candidates--and their base--are delusional. It reminds me of Blanche DuBois in "Streetcar Named Desire," a play and film about a woman having a nervous breakdown (or whatever it's called these days). She had the terrific line: "I don't want reality; I want magic!" That just about describes the situation.
7
The fastest way to increase tax revenues, and boost the economy, is to increase the wages of working Americans, particularly those below the management rung - they spend money immediately, and the benefits of that spending are instant, including boosting small and local businesses, increasing corporate profits, as well as tax revenues.
This could be accomplished voluntarily by the Fortune 500, by adjusting down their insanely exorbitant executive compensation (or even simply diverting future increases) and putting the same dollars into wages and hiring at lower echelons. It would cost the corporations nothing, and have negligible effect on the top wage earners - who park their income in tax shelters rather than spend it - would not require any federal action on minimum wage, and be a win-win-win for workers, tax revenues and business growth.
Unfortunately, the wealth at the top prefers to increase its holdings at the expense of everyone else, and they have a cadre of candidates happily at work to further improve their finances, by making lucrative tax cuts, thus reducing tax revenues, and ultimately gutting federal spending that benefits anyone but themselves.
This could be accomplished voluntarily by the Fortune 500, by adjusting down their insanely exorbitant executive compensation (or even simply diverting future increases) and putting the same dollars into wages and hiring at lower echelons. It would cost the corporations nothing, and have negligible effect on the top wage earners - who park their income in tax shelters rather than spend it - would not require any federal action on minimum wage, and be a win-win-win for workers, tax revenues and business growth.
Unfortunately, the wealth at the top prefers to increase its holdings at the expense of everyone else, and they have a cadre of candidates happily at work to further improve their finances, by making lucrative tax cuts, thus reducing tax revenues, and ultimately gutting federal spending that benefits anyone but themselves.
5
GOP uses Enron accounting methodology for government....They don't count liabilities and make crazy-false predictions about economic growth. Cruz's assertion to embrace the gold standard wasjust chilling. Is everyone in GOP dressing up to be Herbert Hoover for Halloween? They are scary everyday.
5
The GOP are great at rolling out new tax plans.
It's a shame that they are a complete zero when it comes to the historical data and mathematical facts of the results of their tax plans.
It seems like this will be another "trust me" plan by the GOP, short on substance and details, long on tooting their own horn.
It's a shame that they are a complete zero when it comes to the historical data and mathematical facts of the results of their tax plans.
It seems like this will be another "trust me" plan by the GOP, short on substance and details, long on tooting their own horn.
2
"It's a shame that they are a complete zero when it comes to the historical data and mathematical facts of the results of their tax plans."
-- It's refreshing to see a Times reader comment skewering both political parties.
-- It's refreshing to see a Times reader comment skewering both political parties.
My conundrum is: if I vote Republican because I want their tax cut, I am also voting for religious fanaticism, science denial, homophobia, guns, and war mongering. I can't have one without all the rest.
4
Whatever you may say about these tax plans, you have to accept that they are all based on unrealistic notions about future economic growth. We are now in our seventh year of low or no growth. Other advanced economies around the world are faring no better. The most logical conclusion is that the so-called mature economies now can not grow particularly fast, not at least with the kinds of industrial, trade and fiscal policies they have pursued since World War II. Since no elected official in the US dares talk about changing all of those policies, we certainly face more years of low growth and as dramatic as the tax plans proposed by the GOP candidates seem, they are nowhere radical enough to change the path our economy is on.
1
The problem with tax cuts on "investment" is that any investment in the stock market only benefits those with stock. It creates no jobs period. Starting a new business or putting money into a new plant or machinery can create jobs but making money on for example Ford stock only helps the investor and does not create any jobs. The other issue is money earned through labor should not be taxedv differently than money earned by owning money. Money earned is money earned. Tax it the same. And do not cut taxes. We need too much infrastructure and other investments to run the country.
6
Memo to Josh Barro:
Puppies are the real rainbows.
If you want economic growth, give money to ordinary people! One person's going out and buying a puppy is another person's job in the pet food industry and yet another person's job as a vet. Ordinary people spend the money. This creates multiplier effects that economists do, in fact, measure. You can cut capital gains taxes and regulations and red tape and all down the list until you've fulfilled every rich campaign contributor's wildest dreams, and it's not going to grow the economy the way it would if you just gave ordinary people the money to buy stuff.
Puppies are the real rainbows.
If you want economic growth, give money to ordinary people! One person's going out and buying a puppy is another person's job in the pet food industry and yet another person's job as a vet. Ordinary people spend the money. This creates multiplier effects that economists do, in fact, measure. You can cut capital gains taxes and regulations and red tape and all down the list until you've fulfilled every rich campaign contributor's wildest dreams, and it's not going to grow the economy the way it would if you just gave ordinary people the money to buy stuff.
7
The failures of Obamanoics should be plain for everyone by now. The economy is sputtering after so many years of Democratic policies.
Perhaps you missed it, but immediately after President Obama assumed the office of the presidency, the leader of the US Senate - Republican Mitch McConnell - proudly announced to the entire world from the floor of the US Senate that the only goal of the Republican party going forward was to make sure that President Obama could not succeed in his efforts to help average Americans.
From that point on, Republicans did everything in their power to block important measures that would have helped the overall economy and make lives better for the American people as a whole.
From that point on, Republicans did everything in their power to block important measures that would have helped the overall economy and make lives better for the American people as a whole.
7
Remember those great W years of prosperity!
Just thinking about them makes me want to go out and shop.
Just thinking about them makes me want to go out and shop.
2
Hm, one thing rarely mentioned is that tax revenues are down in part because vast numbers of people who work now make less money than they did previously. Our entire economy is built on low-wage jobs. It stands to reason that this lowers the amount of taxes collected.
Take me, for example. My annual gross is now less than I used to pay (1993-2007) in federal taxes every year. The Rs could promise me a 100% tax cut and it would not raise my standard of living. The only thing that keeps me going to work is the fact that I love my job and my belief in the social value of my employer (I work for my county public library.) Cutting taxes will not help me one bit, nor will tax credits for "working families." (I'd like to hear politicians of all varieties stop talking about helping working families and start talking about helping working people.)
Higher wages are the "puppy" that would make life better for me and others like me. And higher wages would naturally translate to higher tax revenue which should, in theory at least, benefit us all. I would happily welcome paying more taxes if it came about as the result of higher income.
But the only thing Republicans love more than low or no taxes on the rich is lower wages for the rest of us. For the past 35+ years they have worked tirelessly to lower the living standards of American workers.
Their tax plans work -- but only for their rich donors. They're already at the end of the rainbow holding the pot of gold as a result.
Take me, for example. My annual gross is now less than I used to pay (1993-2007) in federal taxes every year. The Rs could promise me a 100% tax cut and it would not raise my standard of living. The only thing that keeps me going to work is the fact that I love my job and my belief in the social value of my employer (I work for my county public library.) Cutting taxes will not help me one bit, nor will tax credits for "working families." (I'd like to hear politicians of all varieties stop talking about helping working families and start talking about helping working people.)
Higher wages are the "puppy" that would make life better for me and others like me. And higher wages would naturally translate to higher tax revenue which should, in theory at least, benefit us all. I would happily welcome paying more taxes if it came about as the result of higher income.
But the only thing Republicans love more than low or no taxes on the rich is lower wages for the rest of us. For the past 35+ years they have worked tirelessly to lower the living standards of American workers.
Their tax plans work -- but only for their rich donors. They're already at the end of the rainbow holding the pot of gold as a result.
7
Keep hearing complaints about military spending. Please remember while R&D has been cut in this country the military has done a lot of good, you know little things like cell phones. The money also goes to support our men and women who have been injured as well as families of those killed and after two unfunded wars there are quite a numbers of them. Your local economy most likely is receiving money from the military in one way or another. Do you have an installation? Is there a local company making or selling some item to them? Perhaps a part of a ship, clothing, boots, ammo, paper clips? Think! Nothing is simple except for most of the candidates.
1
The irony of such policies is that their response to the slow dissolution of the American economy, democracy and social cohesion will actually ACCELERATE it.
The want to create isolated sub-cultures within America, create dysfunction in Congress and conflict among states, the elimination of regulations that form the basis of a fair society in which America's legacy formed. These are all DESTRUCTIVE tendencies. These are the same manic, emotional and plain stupid responses we have seen over and over again in societies (some recent as WWII) where the initial response not only caused a conflagration within their own borders but also a conflagration that spread around the world in flames.
It always starts with the petty and sometimes self-delusion of a few that believe themselves to be above the weight and direction of history.
The want to create isolated sub-cultures within America, create dysfunction in Congress and conflict among states, the elimination of regulations that form the basis of a fair society in which America's legacy formed. These are all DESTRUCTIVE tendencies. These are the same manic, emotional and plain stupid responses we have seen over and over again in societies (some recent as WWII) where the initial response not only caused a conflagration within their own borders but also a conflagration that spread around the world in flames.
It always starts with the petty and sometimes self-delusion of a few that believe themselves to be above the weight and direction of history.
5
How can they scream about debt and the deficit with these ridiculous plans conceived in a dream or drunken or drug induced stupor? Ah, the allure of VooDoo Economics is still pulling the mathematically challenged.
4
After the tax-cutting and deficit-raising Reagan and George W Bush budgets, why would any thinking person give any credibility to these fairy tales peddled by fantasists? GOP candidates NEVER level with the public: the reality is that goods and services cost more every year while the country's population is growing, requiring more government services. So, of course, giant tax cuts are just what we need!
5
These tax policies all stem from the Republican leadership that 47% of the people in this country are takers, will only work if forced to do so, and will always look for a free ride. How many Americans have truly said I'm not going to work overtime or seek a second job to support my family because taxes are too high and it's not worth it? It goes beyond that. Look at the Medicare Prescription Drug Plan with its infamous doughnut hole, that can cost families thousands of dollars. Why is it there? Because the Republicans believe that the takers would take the drugs if they were cheap enough even if they really didn't need them.
I really wish the Democrats have the guts to take off the gloves and not defend the GOP lies and misleading theories that have been proven wrong time and time again. There's data out there showing the increase in deficits under Reagan and the Bushes, and showing greater economic growth under Democrats. We've allowed the Republicans to frame the debate, and as long as we continue to do that this nonsense will continue and we'll continue to lose.
I really wish the Democrats have the guts to take off the gloves and not defend the GOP lies and misleading theories that have been proven wrong time and time again. There's data out there showing the increase in deficits under Reagan and the Bushes, and showing greater economic growth under Democrats. We've allowed the Republicans to frame the debate, and as long as we continue to do that this nonsense will continue and we'll continue to lose.
7
Yes, liberals have addressed the Social Security shortfall that will come well into the future.
One plan recommended by the Democrats is the raise the cap on when the rich no longer have to pay Social Security taxes.
Of course this idea has the Republicans crying out in abject horror at the terrible fate awaiting the United States should we ever dare to ask the billionaires to pay more. Why, the world will end!
Much easier for Republicans to cut benefits for the elderly. And eliminate Social Security for our children and grandchildren - after all why shouldnt they work until they drop, right out of a Charles Dickens novel.
One plan recommended by the Democrats is the raise the cap on when the rich no longer have to pay Social Security taxes.
Of course this idea has the Republicans crying out in abject horror at the terrible fate awaiting the United States should we ever dare to ask the billionaires to pay more. Why, the world will end!
Much easier for Republicans to cut benefits for the elderly. And eliminate Social Security for our children and grandchildren - after all why shouldnt they work until they drop, right out of a Charles Dickens novel.
21
Republicans find it much easier to cut benefits for the vulnerable because the vulnerable have no voice. Remember, our right wing Supreme Court just declared that money equals speech.
This dishonest Republican mode of thinking, which they know destroys the poor and middle class while enriching the 1%, makes me sick to my stomach.
You get the kind of government you deserve. Until enough people get out of their easy chairs and vote these Republican evil-doers who worship at the shrine of Grover Norquist out of office, the decline in America will only get worse.
And, yes, they will continue to publicly pray and show us how much they are followers of Jesus - were he on earth today, he would condemn them for not only ignoring his command to heal the sick, feed the hungry, care for the poor and homeless etc. but making each of those classes of people worse off. Shame on them all.
You get the kind of government you deserve. Until enough people get out of their easy chairs and vote these Republican evil-doers who worship at the shrine of Grover Norquist out of office, the decline in America will only get worse.
And, yes, they will continue to publicly pray and show us how much they are followers of Jesus - were he on earth today, he would condemn them for not only ignoring his command to heal the sick, feed the hungry, care for the poor and homeless etc. but making each of those classes of people worse off. Shame on them all.
17
Lower taxes on the wealthy will only exacerbate the transfer of wealth from the middle and lower classes to the rich. There's plenty of investment money out there seeking opportunities; too much, in fact. Investors do not need more tax incentives to find better returns on their money. Growth will increase when the middle class has more money to spend, so we need higher wages, and lower costs for health care and college education (the two cost centers that have raged out of control the past few decades).
19
There has been no transfer of wealth from the middle class to the wealthy. The middle class has just maintained there middle-ness while the wealthy have got much richer. Those in the middle missed out because they could not compete with the top crest of achievers in a superstar capitalist society. Everyone's got a chance. Only the strong succeed.
1
Don't kid yourself. Not everyone has a chance. Those with rich parents have a chance.
3
Oh is that how we are suppose to live, survival of the fittest. So we are back to being animals then.
2
At the end of Bill Clinton's presidency, the debt to GDP increased .45% a change from an increase of 15.0% under Geroge H W Bush. The first part of Clinton's term the Democrats controlled Congress and then the Republicans took control.
When GW came into office with Republican Congress both terms the percentage of debt to GDP went to 20% from two unfunded tax breaks, unfunded medicare part D, and two unfunded wars with a collapsing economy.
It's pretty apparent that lower taxes did not increase taxes collected especially if you want to expand the military and fight a war. But this is the plan as after Reagan's term the Republicans were happy that he lowered their taxes and left the largest debt in our nation's history that it would lead to cuts in the social safety net in the future even if a Democrat was President. It's called starving the beast.
When GW came into office with Republican Congress both terms the percentage of debt to GDP went to 20% from two unfunded tax breaks, unfunded medicare part D, and two unfunded wars with a collapsing economy.
It's pretty apparent that lower taxes did not increase taxes collected especially if you want to expand the military and fight a war. But this is the plan as after Reagan's term the Republicans were happy that he lowered their taxes and left the largest debt in our nation's history that it would lead to cuts in the social safety net in the future even if a Democrat was President. It's called starving the beast.
12
Republican horse puckey. Democrats should do more to call out the Republicans on this so the people understand what is really going on, little/no tax on the rich. If revenue is lacking, tax the middle more and reduce any safety net to the poor.
Here is an idea, put a amendment on any cut to a social program that requires the Government to provide a job to anyone who loses benefits from the cuts.
Nothing more disingenuous then a Republican politician. Nothing as spineless as a weak Democratic politician. Nice article Josh. Is MSNBC turning into a miniFox? (given the purge of the liberal wing)
Here is an idea, put a amendment on any cut to a social program that requires the Government to provide a job to anyone who loses benefits from the cuts.
Nothing more disingenuous then a Republican politician. Nothing as spineless as a weak Democratic politician. Nice article Josh. Is MSNBC turning into a miniFox? (given the purge of the liberal wing)
7
We've tried these "tax-cutting to raise revenue" approaches before and found them to be false since Reagan's time in office 30 years ago. What has changed in the world / national economy that now demonstrates these failed approaches will now work? NOTHING. To continue doing the same thing and expect different results is the definition of insanity.
11
Thanks to Josh Barro for his efforts to keep these yahoos honest. His efforts are not likely to have an impact on Republican primary voters, whose sole source of information is Fox, but it's heartening to see at least one journalist doing his/her job.
13
Incentive to work harder? What planet do these people live on?
13
Why do American politics make it feel wrong to cut spending and raise revenue at the same time? I'm tired of seeing both parties commit to surefire ways to increase the deficit. It seems like the most common sense way to control debt, but maybe that's just me.
1
It's just you.
1
Eliminating taxes on capital gains is a sure fire way to accelerate the Wall Street churning of dollars, which provides no overall economic benefit to the country. The business of capital should be creating companies and stable job markets, providing products and services, and not dollars chasing dollars in the Wall Street casino.
Raising the capital gains tax (especially short term and micro trading) would encourage long term capital appreciation and spur job growth and a more stable climate for a middle class. Logically, a person or a company, would prefer to avoid taxation of profits by keeping investments long term, and reinvesting in the company or business.
So I would encourage a large (30%?) short term capital churning tax, and a lower (10%) long term capital gains tax, and a 0.5% financial transaction tax.
Raising the capital gains tax (especially short term and micro trading) would encourage long term capital appreciation and spur job growth and a more stable climate for a middle class. Logically, a person or a company, would prefer to avoid taxation of profits by keeping investments long term, and reinvesting in the company or business.
So I would encourage a large (30%?) short term capital churning tax, and a lower (10%) long term capital gains tax, and a 0.5% financial transaction tax.
18
Republicans are back to deficits don't matter after screaming for years about the increase in the deficit caused by the huge recession left by Bush which has now been brought back under control by the Obama administration. Bush's tax cuts didn't create any rainbows, Brownback's haven't, nor Jindal's. Fortunately, there are realistic and qualified economic analysts like Barro around to point this out.
20
"Mr. Carson says he wants a 10 percent flat income tax based on biblical tithing."
One needs to go no further to understand which Republican leads in the polls.
One needs to go no further to understand which Republican leads in the polls.
22
Ben Carson always appears somnambulent when he speaks, it's like he's in an Ambien induced blackout, and will have to be told what he said the next day.
1
I like the " puppies and rainbows " description. It is always " pie in the sky " during election campaigns. They all say the same thing - vote for me and everything is going to be just wonderful.
9
It's well past time to eliminate preferential tax treatment for certain kinds of income. There's no cogent rationale for taxing wage income at a higher rate than income earned through speculation.
24
Even if there was a flat tax, those making more money would pay more than those making less, no matter where one made it.
The public should demand they pay for our/their two unfunded wars and previous tax cuts before more are put on the plate.
Doing he Dine and Dash is considered criminal. Why are they/we still doing it?
Make the Government work FOR the people. Vote Bernie Sanders.
Get. Out and Vote!
Doing he Dine and Dash is considered criminal. Why are they/we still doing it?
Make the Government work FOR the people. Vote Bernie Sanders.
Get. Out and Vote!
17
Heaven help us if any one of these rapacious liars gets elected.
24
How about cutting our military budget, by closing all overseas bases, bring the troops home, and if the world wants our help, they can pay our costs, plus a healthy profit? That would pay for the tax cuts.
17
You're being logical. That is not, for the most part, going to work. Have you forgotten? America is an exceptional nation? That means we have the DUTY to support democracy.
1
They're all a bunch of welfare scammers. Yup, the rich get way more than the poor.
28
They also whine way more than the poor. Disgusting.
8
The most whiney, anti-tax rich Republican I know made all his money selling over-priced computer programs to, you guessed it, the government through no-compete contracts. And he inherited the business. Talk about corporate welfare! And Marcellis22, in Yuma, it's not the percent. Middle class folks spend all their income to survive. Rich folks don't drive spending or the economy. In fact, hedge funds and options bet against economic growth. How much money do they need? Give the middle class a break so they can buy homes and send their kids to college. Make all income the same. Bring back the billions from overseas military misadventures to educate our kids and re-build our infrastructure.
2
"In some cases, they are saying economic growth will make up the difference."
Doing what? When they start talking about 'growth' on the order of 6% (Trump), which we haven't seen in 40+ years, I have to ask "doing what?" If we're not building bridges, digging tunnels, investing in research, converting the energy grid, what economic activity (while we cut government, by the way) do they imagine the private sector is getting done that isn't getting done now, that gets us to 6% growth? Is there a new technology, or a new process that no one in the world knows about, that will spring us forward economically at 5, 4, or even 3%?
This is more than 'puppies and rainbows'. This is pure fantasyland stuff. Its not like consumers are sitting on fat bank accounts, waiting for the right moment to spend. They're already tapped out. Its not like government is going to dissolve itself and hand every citizen a $20,000 check to spend on goods and services. And its not like the banks have any incentive to invest when there's no demand. Companies are also not going to invest without demand. And the demand needs to be about more than cars and what goes into next year's Hammacher-Schlemmer X-mas catalog.
This country needs real investment in real things. But that investment isn't going to get made if we insist on leaving government out of it, as if the only thing holding back private investment is government. Government isn't the problem here. 'Puppies and rainbow' policies are.
Doing what? When they start talking about 'growth' on the order of 6% (Trump), which we haven't seen in 40+ years, I have to ask "doing what?" If we're not building bridges, digging tunnels, investing in research, converting the energy grid, what economic activity (while we cut government, by the way) do they imagine the private sector is getting done that isn't getting done now, that gets us to 6% growth? Is there a new technology, or a new process that no one in the world knows about, that will spring us forward economically at 5, 4, or even 3%?
This is more than 'puppies and rainbows'. This is pure fantasyland stuff. Its not like consumers are sitting on fat bank accounts, waiting for the right moment to spend. They're already tapped out. Its not like government is going to dissolve itself and hand every citizen a $20,000 check to spend on goods and services. And its not like the banks have any incentive to invest when there's no demand. Companies are also not going to invest without demand. And the demand needs to be about more than cars and what goes into next year's Hammacher-Schlemmer X-mas catalog.
This country needs real investment in real things. But that investment isn't going to get made if we insist on leaving government out of it, as if the only thing holding back private investment is government. Government isn't the problem here. 'Puppies and rainbow' policies are.
48
I suggest the following procedure for evaluating the seriousness of each candidate's proposal.
Require each candidate's proposal to include an estimate of the polanned total revenue for each of the next 10 years in comparison to the present spending level of $3.7 trillion per year.
Require each candidate to explain how the tax revenues are divided among each of a) businesses and b) each of the quintiles of the taxpaying public. Compare these levels to the present levels.
Require each candidate to include in the tax proposal a means to adjust the levels to reflect failures to reach the planned levels. Those means should include methods to claw back money from those who received benefits of tax cuts.
Require each candidate's proposal to include an estimate of the polanned total revenue for each of the next 10 years in comparison to the present spending level of $3.7 trillion per year.
Require each candidate to explain how the tax revenues are divided among each of a) businesses and b) each of the quintiles of the taxpaying public. Compare these levels to the present levels.
Require each candidate to include in the tax proposal a means to adjust the levels to reflect failures to reach the planned levels. Those means should include methods to claw back money from those who received benefits of tax cuts.
10
Louisiana, Kansas, Wisconsin.....just three concrete examples of the complete lack of credibility behind Laffer Curve "trickle down" economics. In Kansas' case, we're now in year six of Gov. Brownback's hard core effort to somehow, anyhow, hang on long enough to prove it works. The state is in deep debt, teachers are fleeing, and the Governor's support stands at 18%. But just wait....it is going to get better. Have faith...LOTS of faith.
Governors Jindal and Walker have likewise tried the gut the budget approach and are facing a growing deficits and stagnating economies.
The evidence is there and it doesn't support the GOP's continued insistence that manna will fall from heaven if we just cut taxes some more. Too bad the media hasn't focused more on the reality rather than the claims. It is smoke, mirrors and snake oil, all in one abysmal package.
Governors Jindal and Walker have likewise tried the gut the budget approach and are facing a growing deficits and stagnating economies.
The evidence is there and it doesn't support the GOP's continued insistence that manna will fall from heaven if we just cut taxes some more. Too bad the media hasn't focused more on the reality rather than the claims. It is smoke, mirrors and snake oil, all in one abysmal package.
65
It's Halloween year-round at the GOP and their mad scientists (Governors of red States which they liken to "laboratories of Democracy") get to ritualistically re-examining their most cherished crackpot theory, that tax cuts are "paid for" no matter what. Of course, these experiments always yield negative results, but that doesn't matter to the GOP who can then blame the victims of such appalling fiscal mismanagement (aka "you people", or "those people") for their stupidity and greed.
2
You can't call them a Grand Old Party and then complain about unreality, can you?
2
I've never heard of an investor regretting a winning investment, even if he did have to pay taxes on it. I have heard of many investors regretting a losing investment, even though they paid no taxes or even got a tax deduction for it.
Taxes or lack thereof aren't an important factor in investing. They are an important factor when it comes to deciding how to structure one's income to avoid paying taxes.
Taxes or lack thereof aren't an important factor in investing. They are an important factor when it comes to deciding how to structure one's income to avoid paying taxes.
33
Drink the kool aid folks, drink the kool aid.
Tax cuts don't work, never did, never will. If they worked there would be 2 jobs for every American and not at $7.50/hour. Two minimum wage jobs don't count, but then they shipped the good jobs offshore where they keep their wealth.
Delusional politics. Move on!
Tax cuts don't work, never did, never will. If they worked there would be 2 jobs for every American and not at $7.50/hour. Two minimum wage jobs don't count, but then they shipped the good jobs offshore where they keep their wealth.
Delusional politics. Move on!
28
None of the G.O.P. presidential candidates will ever see the inside of the White House except on a Saturday morning tour.
So much for the viability of their tax proposals.
So much for the viability of their tax proposals.
9
Plans grounded in foolishness......and they wonder why they never work out.
6
And yet we cannot rely upon "journalists" pointing out every time a Republican tax cut plan is put forward that past, unpaid for, GOP tax cuts are the prime source of the national debt.
When the Decline and Fall of the American Republic is published, the decadent inability of American institutions to deal with reality and not make believe will in inevitably be cited as a catalyst for the final collapse.
When the Decline and Fall of the American Republic is published, the decadent inability of American institutions to deal with reality and not make believe will in inevitably be cited as a catalyst for the final collapse.
32
When it is all said and done, this is the GOP's goal. They will disguise their actions with all forms of deception n distraction.
This is the Libertarian Party platform that David Koch ran on in 1980: He couldn't win the presidency so he bought the GOP congress and two members of SCOTUS.
Eliminate any governmental control of the education system and compulsory school requirements
Eliminate minimum wage laws
Repeal of federal campaign finance laws, and the immediate abolition of the despotic Federal Election Commission
Eliminate Medicare and Medicaid, All programs in support of child-bearing, taxation in support of children, Welfare, Relief Projects, Aid to Poor,
Eliminate compulsory insurance or tax-supported plan to provide health services, including those which finance abortion services
Deregulation of the medical insurance industry
Eliminate Social Security, Government Postal Service, EPA, Department of Energy, Department of Transportation, Federal Aviation Administration, Food and Drug Administration, Consumer Product Safety Commission
Eliminate all taxation to include income and capital gains, criminal/civil sanctions against tax evasion
Privatization of the railroad system, public roads, national highway systems, waterways, and water distribution systems
Eliminate laws concerning safety belts, air bags or crash helmets
Eliminate the Occupational Safety and Health Act
Eliminate all branches of the services except the Army.
This is the Libertarian Party platform that David Koch ran on in 1980: He couldn't win the presidency so he bought the GOP congress and two members of SCOTUS.
Eliminate any governmental control of the education system and compulsory school requirements
Eliminate minimum wage laws
Repeal of federal campaign finance laws, and the immediate abolition of the despotic Federal Election Commission
Eliminate Medicare and Medicaid, All programs in support of child-bearing, taxation in support of children, Welfare, Relief Projects, Aid to Poor,
Eliminate compulsory insurance or tax-supported plan to provide health services, including those which finance abortion services
Deregulation of the medical insurance industry
Eliminate Social Security, Government Postal Service, EPA, Department of Energy, Department of Transportation, Federal Aviation Administration, Food and Drug Administration, Consumer Product Safety Commission
Eliminate all taxation to include income and capital gains, criminal/civil sanctions against tax evasion
Privatization of the railroad system, public roads, national highway systems, waterways, and water distribution systems
Eliminate laws concerning safety belts, air bags or crash helmets
Eliminate the Occupational Safety and Health Act
Eliminate all branches of the services except the Army.
25
There is nothing wrong with tax cuts but they should insure that the tax cuts reach the greatest number of taxpayers possible. Instead of constantly lowering the top rate in our progressive tax system, lower the bottom rates so that everyone gets the tax cut. Our economy depends on the consumer add the greatest number of consumers are at the lower tax rates.
This is why we need a candidate like Bernie Sanders. No one else, certainly not Hillary, is willing to explain to a grossly uninformed electorate what a "capital gain" is and how someone, most likely not them, is taxed at half the rate on it than they are for actual hard work.
25
How can the GOP/T candidates call for tax cuts and at the same time decry deficits?
27
it is easy ... all mouths have two sides
9
Same old, same old.
Cut taxes on the rich. Raise military spending. Cry and moan about the resulting deficit and insist on cutting Social Security, Medicare, Medicaid and food stamps to lower it. Rinse and repeat.
This makes about as much sense as quitting your job, buying more guns and beer, then demanding that the kids cut back on eating because the bank account isn't balancing anymore. And don't forget to blame the lazy slacker kids for destroying the family finances.
Cut taxes on the rich. Raise military spending. Cry and moan about the resulting deficit and insist on cutting Social Security, Medicare, Medicaid and food stamps to lower it. Rinse and repeat.
This makes about as much sense as quitting your job, buying more guns and beer, then demanding that the kids cut back on eating because the bank account isn't balancing anymore. And don't forget to blame the lazy slacker kids for destroying the family finances.
53
After 40 years of this, can anyone seriously believe that the goals of these proposals is to raise standards of living or to spur economic growth? The goal is to court the wealthy, the corporations & the banks that benefit from the cuts. As for the rest of us, a few dollars off my tax bill will not raise my standard of living when it comes with deteriorating roads & services, and overpriced healthcare & education.
38
How many years and how many repubs have said this. Its the ongoing theme of their campaigns, lower taxes (especially on the haves) and the results will allow more jobs, greater GDP and a better America. However we have 50 plus years of trying these ideas and guess what? they don't work and they make the economy worse, every time. Yes, you can look at the results in real world numbers.
This does not stop the repubs from pandering to their base and hanging onto their beliefs. Facts are facts even though they are ignored.
This does not stop the repubs from pandering to their base and hanging onto their beliefs. Facts are facts even though they are ignored.
14
Ask Kansas residents how their governor Brownback's tax cuts have worked.
33
And ask how many people are moving to Kansas these days. Weren't the Brownback tax cuts supposed to make it appealing to live and do business in Kansas?
8
In 2001, the Heritage Foundation produced a study that stated that the Bush tax cut plan would eliminate our national debt by 2010. Not the deficit, but the debt! We know what happened, just as clearly as we can see what's happening in Kansas.
Republicans and their fake think tanks are liars. Their goal is to starve the government of revenue so they can stuff it in their bathtub.
http://www.heritage.org/research/reports/2001/04/the-economic-impact-of-...
Republicans and their fake think tanks are liars. Their goal is to starve the government of revenue so they can stuff it in their bathtub.
http://www.heritage.org/research/reports/2001/04/the-economic-impact-of-...
63
So much money is now invested that making capital gains zero as well as inheritance taxes is just a clear, bald, gratuitous money grab. As a full time dual income salaried couple it is just galling to us that folks that invest are treated differently from folks who toil. No one can convince me otherwise.
I will never vote for someone who panders this obviously to the wealthy. Mr. Rubio is not working for Americans, he is working for Mr. Braman.
I don't earn any of my income from capital gains and that is true for most Americans. Rubio is hoping to slip this one in on the basis that most folks think this doesn't effect them but it does because it will increase inequality in a huge way....it will be huge
Rubio should talk about raising the minimum wage and limiting corporations from deducting salary and benefits for executives in excess of $1M That would be a good start. Then he can create a public option for part-time and contract workers and make businesses pay a tax when they hire these folks rather than full timers. Then we can talk about inversions and limits on profits for prescriptions drugs and let's just make all healthcare costs transparent...and while we are at it let's limit the interest on tuition loans to 3%.
Too hard? I will just vote for Bernie or whoever is on the democratic ticket.
I will never vote for someone who panders this obviously to the wealthy. Mr. Rubio is not working for Americans, he is working for Mr. Braman.
I don't earn any of my income from capital gains and that is true for most Americans. Rubio is hoping to slip this one in on the basis that most folks think this doesn't effect them but it does because it will increase inequality in a huge way....it will be huge
Rubio should talk about raising the minimum wage and limiting corporations from deducting salary and benefits for executives in excess of $1M That would be a good start. Then he can create a public option for part-time and contract workers and make businesses pay a tax when they hire these folks rather than full timers. Then we can talk about inversions and limits on profits for prescriptions drugs and let's just make all healthcare costs transparent...and while we are at it let's limit the interest on tuition loans to 3%.
Too hard? I will just vote for Bernie or whoever is on the democratic ticket.
32
These are not plans in any sense of the word. To be charitable, they strike me as musings that welled up in after dinner conversations at the country club, over scotch neat. Yet a sizable portion of the electorate would elect one of these financial fantasists to be President of the United States.
Today's Republican Party is devoid of clear thinking or sound policy. These candidates are about as useful to society as golf foursomes reviewing their scores in splendid isolation from the rest of us.
Today's Republican Party is devoid of clear thinking or sound policy. These candidates are about as useful to society as golf foursomes reviewing their scores in splendid isolation from the rest of us.
29
Republicans have not felt responsible to the people, but rather to their political sponsors who pay for representation in Washington.
Republicans have fought common sense proposals to rebuild and maintain the nation's infrastructure; invest in education, basic research and technology; and efforts to improve cyber security and America's vulnerable power grid.
The Koch brothers are the biggest single carbon polluters in the country, so Republicans will fight for dirty energy and against efforts to address climate change.
Republicans regularly attempt to cut Social Security and Medicare for millions of seniors who paid into the system for decades, as well as future benefits for millions more in their 40s and 50s who also have paid into the system for decades.
While Republicans cut spending for embassy security over the past 6 years, they spent millions to hold partisan hearings in a egregious attempt to thwart the presumed Democrat Presidential nominee.
Republicans regularly advocate for cuts in tax rates for companies and millionaires and billionaires, while offsetting the cuts by raising consumption taxes that hit the poor and middle class to a far greater degree.
A party cannot grow by prioritizing the interests of the few at the expense of the many.
Republicans have fought common sense proposals to rebuild and maintain the nation's infrastructure; invest in education, basic research and technology; and efforts to improve cyber security and America's vulnerable power grid.
The Koch brothers are the biggest single carbon polluters in the country, so Republicans will fight for dirty energy and against efforts to address climate change.
Republicans regularly attempt to cut Social Security and Medicare for millions of seniors who paid into the system for decades, as well as future benefits for millions more in their 40s and 50s who also have paid into the system for decades.
While Republicans cut spending for embassy security over the past 6 years, they spent millions to hold partisan hearings in a egregious attempt to thwart the presumed Democrat Presidential nominee.
Republicans regularly advocate for cuts in tax rates for companies and millionaires and billionaires, while offsetting the cuts by raising consumption taxes that hit the poor and middle class to a far greater degree.
A party cannot grow by prioritizing the interests of the few at the expense of the many.
47
Republican tax policy suffers from the same simple minded Rove-ist philosophy of movement with no end. Instead of reaching a goal Republicans continue to cut (or "move the center") until it becomes farcical.
The current Republican primary is evidence of this and is the best farce in many years. Comedy writes will benefit for generations.
The current Republican primary is evidence of this and is the best farce in many years. Comedy writes will benefit for generations.
15
Republicans can push just about anything their wealthy backers want as long as their message includes taking away support of minorities. rounding up "illegal aliens" and bombing Muslims. Include those items and they can continue to push for what's been proven over and over again to be total folly. It's a pretty good gig really. The .01%ers support them financially because they want their tax bills cut and voters support them by ignoring economic policy because of selfishness, hate and that good ol' "I got mine, screw you" mentality.
21
Could the Republican candidates be any clearer that they want to INCREASE income inequality and ADD to the deficit and federal debt with tax plans such as these?
Not only are they fiscally irresponsible and potentially disastrous for the US economy, but we have repeatedly witnessed the failure of such supply-side approaches over the last 40 years, so it's astonishing to me that the media, let alone other people in the GOP, are not point out how terrible such policies have been and will be.
They are one reason Ben Bernanke, a longtime conservative Republican, recently announced that he is quitting the GOP. He cannot be the only person who realizes how economically dangerous the GOP's ideas are.
Ultimately the goal is to put even more money in the pockets of the very rich and corporations, whose leaders vacuum up all the profits. That's it. Everyone else, the 47% or the 99% or the 99.9%, are supposed to go along with this game.
Sorry, but no. Supply-side/laissez-faire/neoliberal/austerity policies have GUTTED the US middle and working classes. We've had enough. Let's start with 70% top marginal federal tax rates for people earning above $1 million, tax capital gains at the salary rate, eliminate the Social Security cap, and have a financial services/trade tax. And let's see how the economy does.
Hint: it'll improve dramatically. Cf. 1992-93!
Not only are they fiscally irresponsible and potentially disastrous for the US economy, but we have repeatedly witnessed the failure of such supply-side approaches over the last 40 years, so it's astonishing to me that the media, let alone other people in the GOP, are not point out how terrible such policies have been and will be.
They are one reason Ben Bernanke, a longtime conservative Republican, recently announced that he is quitting the GOP. He cannot be the only person who realizes how economically dangerous the GOP's ideas are.
Ultimately the goal is to put even more money in the pockets of the very rich and corporations, whose leaders vacuum up all the profits. That's it. Everyone else, the 47% or the 99% or the 99.9%, are supposed to go along with this game.
Sorry, but no. Supply-side/laissez-faire/neoliberal/austerity policies have GUTTED the US middle and working classes. We've had enough. Let's start with 70% top marginal federal tax rates for people earning above $1 million, tax capital gains at the salary rate, eliminate the Social Security cap, and have a financial services/trade tax. And let's see how the economy does.
Hint: it'll improve dramatically. Cf. 1992-93!
86
What is achieved by attributing principled motives to the announced tax plans of the Republican candidates? It's no more than a misguided attempt to appear fair and balanced. All the plans announced so far are utter and complete nonsense, nonsense on stilts if you will. They are what the mega-donors to Republican causes want, the dreams of the top 0.1% and the top 0.01%. They are based on economic fantasies, not real world experience. Never in our history have tax cuts of this magnitude paid for themselves nor resulted in the growth asserted for them. I'm a member of the top 1.0%, albeit only at the bottom of that class. What the Bush tax cuts allowed me to do was work less whilst retaining my after-tax income and retire earlier than I otherwise had planned to. It was an incentive to work less, not more. Since the onset of the Great Recession the main problem of our economy has been lack of demand resulting form lack of income from the other 99%. More tax cuts for the top 1% won't fix that. I anything increasing the after-tax income of the top will further depress aggregate demand by decreasing the spending of the remaining 99% whose benefits are being cut.
37
It is foolish to think that the lack of job creating investment stems from a need for wealthy people to keep more of their income (i.e. lower tax rates). It is also foolish to think the wealthy people care about the same kind of economic growth that the rest of us want and generally measured in terms of GDP. In 2010 the nation had about $56 trillion in wealth and today it is well over $83 trillion - a whopping 48% growth in wealth over 5 years - most of which has gone to those at the top (tax free).
The cancer in our economy is the slow 20-year decline in the share of wealth for the middle class (down 11%) and the poorer half (down 70%). To many in the new generation can't afford to marry or make babies and that is destroying the family which has always been the strength of America.
I am sick and tired of politicians who want to lower taxes now and reduce the deficit later. Eliminate the deficit now and reduce taxes on the rich with our surplus. To do otherwise is to invite the rich and powerful to engage in wasteful military build up that should be fully paid by the wealthy.
The cancer in our economy is the slow 20-year decline in the share of wealth for the middle class (down 11%) and the poorer half (down 70%). To many in the new generation can't afford to marry or make babies and that is destroying the family which has always been the strength of America.
I am sick and tired of politicians who want to lower taxes now and reduce the deficit later. Eliminate the deficit now and reduce taxes on the rich with our surplus. To do otherwise is to invite the rich and powerful to engage in wasteful military build up that should be fully paid by the wealthy.
20
When a businesses makes more money they are inclined to expand the business and hire more people. But here are two ways for a business to make more money; they can increase the profit margin on each unit they sell (supply side), or they can sell more units (demand side). The Republican solution, cutting taxes and deregulation, has the effect of increasing profit margins. It works best when profit margins are too low and inflation is high. But right now corporate sector profit margins are already at their highest level in 65 years, the stock market is near an all time high, inflation barely exists, and more telling, we are beset with growing income inequality. The other side of the equation, sell more units, requires more money in the hands of the people. Given that inflation is low, that wages have not kept up with increases in productivity, and a great many jobs have been sent overseas, it should be obvious that the economic problems we have are on the demand side. The appropriate solution at this time is more jobs; rebuild our infrastructure, improve education, and invest in basic research; and to pay for it, increase taxes on a portion of the added profits that have resulted from sending jobs over seas.
56
Your economic model is out of date. In the 1960s it was the model used by most businesses. In those days the pay of top executives was about 20 times that of the "rank and file" such as factory workers. Today is is about 2000 times larger. Business is no longer about products and services, its about absorbing other companies, pricing medications out of the reach of the sick and most importantly, making the people at the top obscenely rich.
That is the Republican model no matter how they dress it up.
That is the Republican model no matter how they dress it up.
10
Spitzer's model is the right model. Companies expand and hire where they see opportunity. Stagnant wages mean stagnant demand so corporations resort to accounting tricks like layoffs, hiring contractors and stock buy backs. These all lead to higher earnings but no new growth.
A higher minimum wage, lower corporate taxes, and limits on deductions for executive pay would be a start. Don't let a company deduct pay over $500K and see how they dance around that in their annual report.
Or how about a tax to corporations for the benefits states pay to part-time workers? That is corporate welfare that should be abolished. And while we are at it we should add a tax to a business for every contractor to help pay for their public option.
The GOP has no new ideas except for lower taxes. They should make all income taxed at the same rate and limit charitable deductions to 15% and tax income that has never been taxed like inheritance at the same rate as ordinary income. There should not be a them and an us.
A higher minimum wage, lower corporate taxes, and limits on deductions for executive pay would be a start. Don't let a company deduct pay over $500K and see how they dance around that in their annual report.
Or how about a tax to corporations for the benefits states pay to part-time workers? That is corporate welfare that should be abolished. And while we are at it we should add a tax to a business for every contractor to help pay for their public option.
The GOP has no new ideas except for lower taxes. They should make all income taxed at the same rate and limit charitable deductions to 15% and tax income that has never been taxed like inheritance at the same rate as ordinary income. There should not be a them and an us.
3
Tax cuts like the ones being proposed by republicans have historically raised the deficit and not revenue or GDP. If elected and they enact these policies, the deficit will again rise and the republicans in charge will have to decide whether to raise taxes or cut programs (including Social Security and Medicare). I think we all know which they'll choose and they'll mask it as saving America when in fact it is a problem they themselves intentionally created.
93
As in Starve the Beast and then claim the poor thing is dead.
Actually that's not correct. Under Reagan tax revenue collected doubled.
Then again the GOP sophists could resort to the time honored policy of getting us involved in another war to distract public attention. Marco Rubio (which could translate as the Golden Frame) also has proposed much more "confrontational" policy by the US with regard to the China/Taiwan dispute, North vs South Korea, and matters related to Russian influence in Syria and The Ukraine. Who knows, he may be contemplating another Bay of Pigs in Cuba. There are endless possibilities for placing a golden frame around a vacant space devoid of anything tangible.
Of course the proponents of cutting taxes to the bone and beyond must cast their aim in terms that appeal to a mentally enfeebled electorate. But really when it comes down to it, these "trickle-downers" are in fact doing the bidding of their fund base, the 0.01%, who want to restore a feudal system in which the nobility is completely exempt and the peasantry pays for what few services the nobility wants--military, police, prisons--but has no interest in underwriting out of their own pockets. Pure and simply, a "convict, jail thyself" philosophy.
31
We are 30 years into the tax cut bonanza folly and it has yet to abate. The economy operates upon demand. The economy is powered by spending. People don't earn enough money to spend, so the economy lags.
The excuse is always the same. We need to give the tax cuts more time. Just ask Same Brownback. It's been three years since he created his conservative utopia and no good had come of it. Only spiking deficits that required sales tax hikes to plug the holes.
Furthermore, none of these oracles of tax cutting nirvana have ever produced any historical or credible evidence that their policies will or have ever worked. Chasing rainbows doesn't require evidence. You can never catch one.
The excuse is always the same. We need to give the tax cuts more time. Just ask Same Brownback. It's been three years since he created his conservative utopia and no good had come of it. Only spiking deficits that required sales tax hikes to plug the holes.
Furthermore, none of these oracles of tax cutting nirvana have ever produced any historical or credible evidence that their policies will or have ever worked. Chasing rainbows doesn't require evidence. You can never catch one.
84
"Prosperity is just around the corner" -- attributed to Herbert Hoover in 1931. This "prosperity through austerity" Gong-show political posturing has gone on for way more than 40 years. The hook, please!
12
"Furthermore, none of these oracles of tax cutting nirvana have ever produced any historical or credible evidence that their policies will or have ever worked."
Given the gullibility and level of actual knowledge of their target audience in the primaries, Republicans do not need facts - or even evidence.
Given the gullibility and level of actual knowledge of their target audience in the primaries, Republicans do not need facts - or even evidence.
1
"Smoke and Mirrors" doesn't even begin to cover this kind of thinking. It has bankrupted one state (Kansas) and placed New Jersey in a deep hole. At some point Americans must decide that the services provided by government--services that only government can provide-cost money and we must foot the bill. If we cut the corporate tax rate (fine), we must close all the loopholes too. And the 1 percent must pay more, Social Security taxes must capture more income, and gas taxes must rise if we want our bridges not to fall down. And yet we hear the same tired mantra from the Republicans: you can have everything and pay nothing. Horsefeathers!
80
The goal of the GOP corporatists is to destroy government and then privatize, privatize, privatize. Now guess who would gain from such a plan?
1