Congress has lost its mind...

09-14-2010, 10:24 PM

McConnell unveiled the Senate Republican tax plan today.

It would make permanent all of the Bush tax cuts that were set to expire this year and limit the estate tax to those over $5 million ($10 million/couple).

The CBO hasnt scored it yet, but a somewhat similar proposal scored by the CBO would mean $4 trillion in lost revenue over ten years......four times the projected deficit impact of the health care reform and stimulus bill combined.

Deficits result not only from increased spending, but equally from reducing revenue.

Yet, the Republicans argue with a straight fact that cutting $4 trillion in revenue wont result in significant deficits.

09-14-2010, 10:24 PM	#11
Redux Guest Posts: n/a	McConnell unveiled the Senate Republican tax plan today. It would make permanent all of the Bush tax cuts that were set to expire this year and limit the estate tax to those over $5 million ($10 million/couple). The CBO hasnt scored it yet, but a somewhat similar proposal scored by the CBO would mean $4 trillion in lost revenue over ten years......four times the projected deficit impact of the health care reform and stimulus bill combined. Deficits result not only from increased spending, but equally from reducing revenue. Yet, the Republicans argue with a straight fact that cutting $4 trillion in revenue wont result in significant deficits.

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