Posted by Stephen D. Foster Jr. on 30 Jul 2017
It has been proven time and time again that tax cuts for the wealthy do not improve the economy, but Paul Ryan promised to do it again anyway.
After months of failing to repeal the Affordable Care Act and strip healthcare away from millions of Americans, Ryan gushed about the Republican plan to gut the rest of America by giving even more money to rich people.
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During an interview with Fox Business, Ryan promised that Republicans in Congress will “stick the landing” on tax reform.
“It is more important to us than anything that we get tax reform done,” Ryan said. “Because we think it is absolutely critical for strong economic growth.”
“Getting consensus from the White House, the House and the Senate makes it much more of a viable enterprise. I feel much more confident that we’re going to stick the landing on tax reform because we have now said, ‘We have consensus, here’s the framework, let’s go get it done.’”
In other words, Ryan and his Republican colleagues are going to work hard to make sure wealthy people have more money while the rest of us struggle to pay our bills. It’s yet another wealth transfer from the middle class and the poor to wealthy pricks who are only going to laugh all the way to their Swiss and Cayman Islands banks rather than actually invest it in growing the economy.
As we all should remember, tax cuts for the rich passed by President Bush and Republicans were disastrous for this country and contributed to the Great Recession. They were so unpopular that President Obama and Democrats ended them, which resulted in more tax revenues that helped lower the budget deficit that Republicans caused in the first place.
And Ryan knows such cuts are unpopular, which is why he plans to use “dynamic scoring” to claim that the tax cuts will be good for the country.
“What that means is that we can have a big tax cut, but also make sure we are in compliance with our deficit targets. I don’t think we can get to 3 percent growth without tax reform. I really believe the secret to getting to 3 percent growth — clearly a goal we can achieve in this country — regulatory relief, working on labor supply, welfare to work. But tax reform, you can’t get to 3 percent growth in my opinion without tax reform. That’s why this is so important. That’s why we all agree.”
Here’s the video via YouTube.
Dynamic scoring is nothing more than a dirty trick designed by Republicans to dupe Americans into believing that tax cuts for the wealthy will benefit them.
As Business Insider notes:
There’s no exact way to dynamically score anything. This is not a science. There’s no set process, and there are no set rules on the assumptions made. To make tax cuts that look as if they wouldn’t put a massive hole in the budget, policy wonks estimate the future benefit of tax cuts to the economy after making a load of assumptions — including about what a future government might do in response to falling tax revenue.
Those imagined benefits are then added to future budget projections, and — BOOM — you’ve got a healthy-looking balance sheet for America.
According to the Tax Policy Center, Trump’s tax plan would slash corporate tax rates to $15 percent, which will cost our nation $2 trillion over the next decade. That’s more than double what the current deficit is.
On top of that, Ryan wants to gut programs that help struggling Americans get by such as food aid, heating aid, healthcare, and just about anything else that actually does benefit the middle class and the poor. All so that rich people like Donald Trump can get richer while the rest of us suffer.
Featured image via Mark Wilson/Getty Images