07-09-2017, 10:55 PM
(07-09-2017, 10:29 PM)JustWinBaby Wrote: I haven't looked, so not sure how much this will really increase the deficit, since it looks to be a sizeable increase in taxes on the middle class (where the money is). When the CBO scores these things, they always overestimate revenues from increases and vice versa on decreases - it will add to the deficit, probably significantly, but probably not nearly as much as being predicted.
This isn't a CBO scoring, it's from the Urban-Brookings Tax Policy Center, and they had a large increase to the debt. Admittedly, no analysis is a guarantee, but raising taxes on the middle class may not be the revenue driver you think with income inequality continuing to spread. There are many things that could be done to increase revenues by broadening the tax base that coukd result in a shrinking deficit and eventually debt.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
