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Tax law virtually paid for
2001400ex
Member Posts: 29,457
in Tug Tavern
Not really but looking forward to more macroeconomic education by @HoustonHusky
Kudlow, “Face the Nation,” July 29: Even the CBO numbers– even the CBO numbers show now that the entire one-and-a-half-trillion-dollar tax cut is virtually paid for by higher revenues and better nominal GDP.
The CBO does estimate that the tax law will prompt some economic changes that reduce its impact on the deficit.
The congressional budget analysts expect the tax law will boost average annual real GDP, or gross domestic product, by 0.7 percent over the 2018 to 2028 period, for example.
And without the “effects of the macroeconomic feedback,” as CBO describes the law’s economic effects, it would add more than $2.3 trillion to the deficit over the next 11 years, including a more than $1.8 trillion increase in the primary deficit and a $471 billion increase in debt-service costs. (See Table B-3.)
https://www.usatoday.com/story/news/politics/2018/08/02/cbo-didnt-say-tax-cuts-were-virtually-paid-larry-kudlow-fact-check/895004002/
Kudlow, “Face the Nation,” July 29: Even the CBO numbers– even the CBO numbers show now that the entire one-and-a-half-trillion-dollar tax cut is virtually paid for by higher revenues and better nominal GDP.
The CBO does estimate that the tax law will prompt some economic changes that reduce its impact on the deficit.
The congressional budget analysts expect the tax law will boost average annual real GDP, or gross domestic product, by 0.7 percent over the 2018 to 2028 period, for example.
And without the “effects of the macroeconomic feedback,” as CBO describes the law’s economic effects, it would add more than $2.3 trillion to the deficit over the next 11 years, including a more than $1.8 trillion increase in the primary deficit and a $471 billion increase in debt-service costs. (See Table B-3.)
https://www.usatoday.com/story/news/politics/2018/08/02/cbo-didnt-say-tax-cuts-were-virtually-paid-larry-kudlow-fact-check/895004002/
Comments
How's your "dynamic modeling" comparing to actual revenues? (Hint...actual revenue is much higher).
Speaking of revenues, you paid up yet for Spamming the board, or you going to avoid the question some more?
And no actual revenue isn't much higher. But ok!
Nice duck on the donation question...wonder why you skipped it?
And show me where revenues are way higher than projected. A link would be nice.
You understand?
That being said, it's a both problem. And right now conservatives are also spending like drunken sailors.
Government is not a business. They don’t “generate revenue” or create wealth. They can take by force without provding comeasureate value.
You fucking dumbshit.