J. Scott Applewhite, The Associated PressSenate Majority Leader Mitch McConnell, Sen. Orrin Hatch, and Treasury Secretary Steven Mnuchin speak to reporters about Republicans’ tax-cut plan on Nov. 9 at the Capitol.
Nearly every claim Republicans are using to market their tax plan is at best a distortion, at worst a deliberate falsehood.
Which raises the question: If their plan is really so great, why not sell it on the merits?
Consider just a few of the Republicans’ key talking points and their tenuous relationship to reality.
1. The tax cuts will pay for themselves.
Republicans claim that tax cuts will unleash boundless economic growth. Through that growth, we’ll all become richer. And as our incomes rise, tax revenue will, too. Hence, the tax cuts will be free.
Some Republicans even argue that the bill is so pro-growth that it will reduce the federal debt.
“If we pass this tax reform package in something like its current form, we will reduce the size of the deficits,” Sen. Patrick J. Toomey, R-Pa., erstwhile budget hawk, said on “Meet the Press” on Sunday. “We will have smaller debt than we otherwise would.”
Despite searching high and low, however, Republicans have been unable to locate any credible tax outfit that thinks their proposals will do anything other than lose money.
Republicans’ solution: Just lie about what the experts say!
In that same interview, Toomey cited a Tax Foundation report he claimed showed that the Senate bill would reduce deficits once you accounted for growth.
The Tax Foundation, a center-right think tank, uses relatively optimistic assumptions about the economic effects of tax cuts. But even its analysts determined the bill would increase deficits by a half-trillion dollars over the next decade.
2. The tax plan primarily helps the middle class.
Nope. The biggest benefits go to higher-income Americans, both in raw dollar terms and as a percentage …read more
Source:: The Denver Post