Anything “trickle down” that comes from the Goopers ultimately results in “trickle down poverty” for most of us average schmoes.
Len Burman, the co-founder of the Tax Policy Center think tank, characterized it as “wishful thinking.” Bruce Bartlett, an economist who advised the Reagan and George W. Bush administrations, has likened these calculations to “using smoke and mirrors to institutionalize Republican ideology into the budget process.” George Callas, who serves as senior tax counsel to House Speaker Paul Ryan (R-WI), dismissed the framework as a “magic unicorn” whose main impact would be akin to “dropping cash out of helicopters on corporate headquarters.”
Damn Lefties, what do they know ?
No tax reform until we see Prez. Grifter’s returns.
I wish I could “like” this 1000 times.
Slightly OT (but perhaps on topic in a couple of days!) : Good article over at New Yorker about the backoff from the border wall. The article begins with this sentence:
[quote]
One reliable way to know that Donald Trump has reversed himself on an issue is if he denies having done any such thing.[/quote]
And it ends with this:
When beavers see a stream in a forest, they say, “This place needs a dam.” They can’t help it.
When Republicans see power, they say “We need to cut taxes on the wealthy and corporations.” They can’t help it.
Trump wants to break the bank, then go after Social Security and Medicare.
The GOP will follow the plan, one way or another.
I was taken a bit aback by the strength of the language - from GOP or GOP leaning sources. Maybe the lesson’s of Reagan, W and Brownback’s Kansas are finally being internalized by those on the right who actually pay attention to tax policy and budgets? May the belief in the Laffer curve soon be buried for posterity.
Laffer is still around, WINNING bigly !
Laffer is currently an economic adviser to Kansas Governor Sam Brownback, who in 2012 zeroed out state tax liability for approximately 330,000 of the top wage earners in the state.[15] The state, which had previously had a budget surplus, experienced a budget deficit of about $200 million in 2012. Drastic cuts to state funding for education and infrastructure have been implemented because of the budget deficits.[16]
Wow… who knew that basing big budget decisions on discredited high school math ideas would lead to disaster?
Donald John Trump is an adjunct failure and he’s the greatest in this specific category!!
So, so SAD!!
Need to retire the trickle down analogy and call it Reverse Robin Hoodism.
Nah, he isn’t an adjunct failure. He is a full failure with tenure.
There has never been a pro-growth tax cut.
It’s not in enough trouble.
Did you, perhaps, mean “abject?”
If these tax cuts pay for themselves over time, doesn’t it follow that the corporate tax rate should be cut to 0%? Because they would pay for themselves too? Why stop at 15%?
Just double the standard deduction and do nothing else. Millions of tax payers would get a cut, while being liberated from itemizing.