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Do Tax Cuts Have To Be Paid For?

By The Reverend Published: January 7, 2013

2010...“My view, and I think most of the people in my party don’t believe that you should ever have to offset a tax cut,” Senate Minority Whip Jon Kyl

“That’s been the majority Republican view for some time,” Minority Leader Mitch McConnell told TPMDC this afternoon after the weekly GOP press conference. “That there’s no evidence whatsoever that the Bush tax cuts actually diminished revenue. They increased revenue, because of the vibrancy of these tax cuts in the economy. So I think what Senator Kyl was expressing was the view of virtually every Republican on that subject."

There are lies and then there are damn lies. Claiming that tax cuts never have to be paid for because......cutting taxes doesn't cost anything and, anyway, cutting taxes actually creates MORE revenue for the federal government than is lost by doing the cutting......is a damn lie.

Did extending the Bush tax rates in the "fiscal cliff deal" increase the debt......or decrease the debt?....

The CBO estimate comes after the Joint Committee on Taxation estimated it would reduce federal revenue by $3.93 trillion over the next 10 years when compared to current law.

The Committee for a Responsible Federal Budget, an advocacy group that supports broad deficit-reduction reforms, estimates the entire package would increase deficits by about $4.6 trillion over the next 10 years compared to current-law projections.

Unless the CBO is partisan when a Democrat sits in the White House, what I hear them saying is that extending Bush tax cuts on every income earner below $400,000 per year INCREASES the deficit by approximately $4 trillion over ten years. Apparently, cutting taxes actually costs the Treasury something.

It's interesting to note that both Jon Kyl and Mitch McConnell voted in favor of continuing tax cuts for the middle class.....making those cuts permanent even. So, Kyl and McConnell voted in favor of adding $4 trillion to the national debt. That's what they did.....even though in 2010, as witnessed in the quotes at the top, both Serious men stated that tax cuts don't need paid for.

Why, then, would all Republicans, post cliff deal, be spouting off about cutting spending in any approaching debt ceiling deal? Republicans just voted to increase the debt by $4 trillion over ten years......demonstrating that they don't really give a good goddamn about the national debt. How could they? How could anyone be oh-so-worried about national debt who just voted to increase that debt significantly? How does that make sense? It doesn't.

Isn't it accurate to say that during all these Kabuki theater presentations we've been blessed with over the last 3 years.....Republicans and conservative media have focused on the terrible, horrible, awful nature of deficits and national debt? Debt clocks on Fox, etc. And yet, 40 GOP senators and 85 House Republicans just voted to add $4 trillion to the national debt. Does that sound like a political party overly concerned about lowering the deficit and debt?

Now, post-deal, we're being told by all the usual untrustworthy suspects that OMG......THE DEBT. 24/7 loops of "we have a spending problem, not a revenue problem"....will undoubtedly grace our teevee screens. How can any of this....stuff....be taken seriously?

It shouldn't be.....taken seriously. For years I have been explaining how Republicans do not care about debt or deficits.....and they don't. If Republicans pretend to be six-pack-ab deficit and debt hawks.....it is only pretending. Again.....Republicans just finished adding $4 trillion over ten years to the national debt.....because they are much more concerned about being primaried out next election for raising taxes then they are worried about deficit spending and debt. So...really....how serious could they be about the national debt?

If you took in any of the wankery from yesterday morning's "news" shows, you know that the same people who just finished increasing the debt by $4 trillion....proving how deeply Serious they are about debt.....are coming after "entitlements." Social Security adds nothing to the debt and is fully funded until 2030-something.... and Medicare is fully funded for 11 more years, which is the average length of time the program has been fully funded since it's creation.

But Republicans are coming after entitlements anyway and have warned that they won't increase the debt ceiling unless what they call the "biggest drivers of our debt" are slashed. Also, too....those Republicans say stuff like that with a straight face....that way you know that they are extra-special Serious.

Finally......no....Republicans do not care one way or the other about debt and deficits. They have just proven that they don't by voting to add $4 trillion to the debt. What they care about is diminishing very popular Democratic programs, eventually privatizing them ala Paul Ryan, degrading the programs for the sake of Wall Street and other privatizing- skimmer profits. What they care about is downsizing all government programs for the poor, elderly, sick and vulnerable....so that eventually.....through "tax code reform", the very rich can have even lower tax rates than they have right now.

That's the only thing the GOP is serious about.

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