07-10-2017, 12:38 PM
(07-09-2017, 11:05 PM)JustWinBaby Wrote: Heritage found $3.8T over 10 years, which is probably a little more than double what I would have guessed. Of course, I'm a believer in lower taxes and lower spending - decreased revenues don't HAVE to mean increased deficits.
I think there's a lot wrong with the plan, but keeping the estate tax is probably $250B. And I'm completely in favor of lowering corporate tax rates, but I think you need to offset that with a higher capital gains tax.
I agree that lower taxes don't have to mean increased deficits, but we both know that the spending decreases aren't going to keep up. Plus there is the added bonus that right now we bring in enough revenue to cover mandatory expenditures plus the discretionary defense budget, and nothing more. Cuts deep enough to reduce revenues and keep the budget balanced would be devastating to the country at this point.
(07-09-2017, 11:37 PM)xxlt Wrote: Really? You don't think Mitch "What's in it for me?" McConnell and Paul "The Brain" Ryan will eat this up with a silver spoon in each fist? You got to be pulling my leg. They'll be whipping their members so hard to vote for this they'll make their backs look like Chokecherry trees.
I think they would go for it, but I don't think the Senate would pass it. In its current form there is an increase in tax burden to the middle class, as JWB pointed out, and that is going to be a huge no go politically.
"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
