Discussion: Ryan: 'Nobody Knows' If Massive Tax Cuts Will Pay For Themselves

And here we thought Ryan is a budget genius, what's fact is this will blow up the budget and he knows it. He's lying as usual.

8 Likes

Ryan noted separately that, in addition to Republicans’ tax cut bill, “we’ve got to control our spending. That, we have more work to do.”

“We clearly have to go after spending control.”

He's explicitly saying that the goal is to Starve the Beast. Step one has been accomplished (massive tax cut).

They don't want the tax cuts to pay for themselves since they would not then have rationale for cutting domestic spending (the goal).

13 Likes

“We clearly have to go after spending control.”

They’re admitting to Medicaid Medicare Social Security fuckery in plain sight

20 Likes

The ONLY opinion they needed was the the opinion of their mega donors.

2 Likes

Of course :angry:

No, they said "spending control". Could be anything. You're being alarmist!

1 Like

“Are you saying that the growth you’re going to get from this tax cut will equal the amount it would cost on the deficit side, so that it’s a wash?” Savannah Guthrie asked Ryan in an interview Wednesday.

“Nobody knows the answer to that question, because that’s in the future,” Ryan said. “But what we do know is that this will increase economic growth.”

From Forbes

To illustrate, Treasury Secretary Steven Mnuchin has repeatedly promised that the cuts would pay for themselves, meaning they would create so much economic growth over the next decade that despite the steep cuts being proposed, the US government would actually collect MORE revenue than it would have in the absence of such cuts.

from that WaPo link

The plan will pay for itself with growth,” Mnuchin said at an event hosted by the Institute of International Finance.


13 Likes

Ryan is not "wonky," he's wacky!

5 Likes

Revenues will not grow, they will shrink. Trump and the Republicans will further hamstring the IRS setting the table for a festival of tax avoidance among the wealthy.

While processing tens of millions of tax returns for 2017 under the current rules, the I.R.S. would also have to figure out how to interpret and explain a new system and put it into practice.undefined> “Beware,” said John A. Koskinen, who retired last month as I.R.S. commissioner. “If the budget keeps being cut and the agency keeps being given more things to do, the I.R.S. is simply not going to work.” Either the information technology will fail, forcing the filing and refund systems to collapse, he warned, or enforcement and audits will become so scarce that fewer people will be inclined to pay the taxes they owe.

Challenging the I.R.S. at every turn, however, will be a growing phalanx of highly paid tax lawyers and accountants intent on finding ways to outmaneuver the I.R.S. and avoid taxes. Every 1 percent drop in compliance costs the government $33 billion a year. Yet enforcement and auditing capabilities have perhaps suffered the most as the agency’s budget has shrunk.

With Trump and his administration being the finest examples for corruption and grifting, I'm sure many others will follow their lead. We can easily become another Brazil.

12 Likes

Like the Defence Department budget?

1 Like

Actually I think it translates into "see, now we can cut Medicare, Medicaid, Social Security and any other program that benefits anyone who isn't White and wealthy.

4 Likes

Quite the contrary, Paulie, actual economists and harsh experience tell us that they most certainly will not pay for themselves. Keep pushing that snake oil, somebody must be buying it. Ryan is a lying fraud.

10 Likes

Did not Ryan say that this tax scam would pay for itself during one of his interviews? I thought I heard that.

5 Likes

“Nobody knows the answer to that question, because that’s in the future,” Ryan said. “But what we do know is that this will increase economic growth.”

Hmm. So we know some things from the future, but not others?

I guess the Today Show is where you go when you want those big fluffy softballs just rolled gently in your direction?

7 Likes

“You can point to these anecdotes, but I will just tell you, every study under the sun shows us, you lower the tax rates, make us more competitive, you will see faster economic growth in America,” Ryan responded to that criticism.

Let's see those studies then. You have a staff, paid for by us, have them gather up every study under the sun, and lets take a look.

9 Likes

"Nobody knows if this tax bill will pay for itself"...
.....
I'll remember that , Paulie, come 11/2018 when i am in a voting booth. I will remember it when you try to say Medicare and Social Security are bleeding us dry..
Yuck it up Paulie.
This bill is an epic bank account stuffer for corporations. Nothing will "trickle down" to a working person or a retired senior except pee on their leg.

7 Likes

All you have to do is ignore the doubling of health care premiums.

9 Likes

Before, the line was that these tax cuts will pay for themselves. I just heard Brat say it. Now the line is "Look, we're trying to give you a bribe for a couple of years! Will you just shut up and take the bribe! What's the matter with you people?!"

When your kids are dying in the hospital and wonder why you won't spentd the money to save them, make sure you tell them about the LG 54" TV you bought with your bribe. You know, for comfort.

12 Likes

Is a puzzlement.

5 Likes

Ryan noted separately that, in addition to Republicans’ tax cut bill, “we’ve got to control our spending. That, we have more work to do.”

We clearly have to go after spending control.

previously

“Critics of tax reform are claiming the legislation would lead to massive, across-the-board spending cuts in vital programs — including a 4-percent reduction in Medicare — due to the Pay-Go law enacted in 2010,” Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan said in a joint statement. “This will not happen.”

Congress can waive the law, the statement continued, and there’s “no reason to believe” they won’t.


In June, Rep. Tom Cole (R-OK), who sits on the House Budget Committee and is the chair of the appropriations subcommittee that manages health spending, called President Trump’s promise to leave Medicare and Social Security untouched and balance the budget a “fantasy.”

“We have been talking about Medicare and Medicaid reform all the way through,” Cole told Vox then. “I’m not asking the president to abandon his principles. He is the president of the United States. He doesn’t have to sign something. But we shouldn’t abandon ours either.

9 Likes