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12 Bumps

Republican Tax Plan Doubles Nation's Deficit in Just Ten Years

What’s clear is that Senator McConnell’s and Congressman Boehner’s plan would do absolutely nothing to grow our economy, put people back to work and strengthen America’s middle class. Instead, it would take us back to the same exact failed economic policies that created the mess we’re in: cut taxes for millionaires and billionaires; cut rules for the special interests and big corporations and cut the middle class loose to fend for itself.

 
mommom2000

Asked by mommom2000 at 10:49 AM on Sep. 16, 2010 in Politics & Current Events

Level 24 (21,584 Credits)
This question is closed.
Answers (40)
  • Beside the fact that a huge part of the budget is already spent. Discretionary spending is a small portion. You can't just stop programs like medicare and social security. So yes, by cutting taxes you are increasing the deficit. Just like if I take an unpaid day off of work. It may feel good but it's going to affect my bottom line.
    stacymomof2

    Answer by stacymomof2 at 7:24 PM on Sep. 16, 2010

  • The only thing that increases the deficit is spending money. The amount of revenue collected in taxes cannot grow the deficit. It is a mathematical impossibility. The deficit will double if and ONLY if they continue spending at the current rate and/or increase spending. If you owe someone $1000 and have $10 in the bank, and spend that on food, you still owe $1000. If you owe someone $1000, have $10 in the bank, and 20 people hand you another $10 each, you will now have $210, spend it on better food and drinks at an expensive restaurant, and still owe $1000. Increasing tax revenue does nothing to reduce the deficit. The only way to do that is for congress to direct more money to paying it off and less money to other things. They have given NO indication of any intent to do that. But they tell a very good lie trying to use that to talk you into giving them more money for Ruth Chris's.
    NotPanicking

    Answer by NotPanicking at 11:04 AM on Sep. 16, 2010

  • Hrmmm, is this from the same White House that used liberal funny math to sell their ObamaCare Health Care bill??  Credibility, LOST!

    grlygrlz2

    Answer by grlygrlz2 at 10:57 AM on Sep. 16, 2010

  • Democrat talking points that defy logic and the facts. Only the current regime would attempt to convince us that by allowing us to keep our OWN money we are increasing the deficit. Remember the deficit is caused by INCREASED SPENDING and not by not taxing enough. The current administration depends on a gullible public to push increased spending. The prime mortgage debacle pushed and passed.by democrats in the early 90's came to fruition at about the time democrats took over Congress in January, 2007, and it has been downhill since. Until that time when the balloon mortgages began to default, we had the longest sustained growth of 52 straight months. Would any sane person or business hire or expand if their costs were set to rise dramatically or if they could not predict what their costs would be?
    annabarred

    Answer by annabarred at 1:12 PM on Sep. 16, 2010

  • The deficit is based upon an imbalance between income and expense. If you increase income you reduce the deficit in the same dollar amount as reducing spending. They are a one to one relationship.


    So, What happens when politicians say a bill will reduce the deficit or even be 'deficit neutral' to 'sell' their plan (ie~ ObamaCare), but then it is determined the reality is an increase in the deficit ? Do you think the whitehouse blogger takes into consideration their own lies (errrr) "miscalculations" when they fully discuss the "deficit"? Or is this another one of those partisan games the WH claims not to partake in?

    grlygrlz2

    Answer by grlygrlz2 at 12:05 PM on Sep. 16, 2010

  • Oh yes, because the current administration has tripled the deficit in less than 2 years, and their policies are working out so well. We just received notice of the tax on 'cadillac' health care plans and how the company will lower our benefits in order to NOT pay the tax. Um we pay a large portion of the health care plan we have. Businesses who actually hire people are not right now, they are holding on to their money because of all the bail outs - so unemployment is UP not down like we were promised.
    jett286

    Answer by jett286 at 11:07 AM on Sep. 16, 2010

  • The gov't cannot stop spending right now..or ever,


    Ever??? False. They can stop passing 800 Billion Dollar Special Interest/Short Term Job Bills, thus stopping the spending. The word "emergency" has been hijacked and absused in DC... But, then again~ why let a crisis goto waste, right?

    grlygrlz2

    Answer by grlygrlz2 at 11:52 AM on Sep. 16, 2010

  • Hard to buy anything the progressives say now. (not that it ever was easy) Everything they have done has been a HUGE FAIL>
    Carpy

    Answer by Carpy at 11:31 AM on Sep. 16, 2010

  • There are no facts here in this story. It's just a Liberals thought on how tax breaks for all Americans will add to the deficit. It doesn't take inot account the proof that if you give ALL Businesses tax breaks and such as well as giving everyone else tax breaks that businesses will thrive, prosper and HIRE. People with jobs have money and they will SPEND, It's simple math for petes sake.
    Why can't you people understand this? Please post some real facts about how all this spending has HELPED anyone.
    It's horrible when we have $450, 000 +- filing for unemployment every month and the White house is saying that's great. OMG !
    itsmesteph11

    Answer by itsmesteph11 at 12:31 PM on Sep. 16, 2010

  • Everything I have mentioned are facts.

    Except the part about the tax rate increasing or decreasing the deficit (in other words, your entire question). The tax rate has nothing to do with the deficit. Maybe it's time you found a dictionary and looked up what all these words mean since you keep using them in ways that defy all logic, reason and definition.
    NotPanicking

    Answer by NotPanicking at 1:28 PM on Sep. 16, 2010