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Pro-Growth Unicorns

By The Reverend Published: May 2, 2012

Wish in one hand and.....well, you know, *^&# in the other....and see which hand fills up first. It's a well worn and crude way for the unwashed to express their contempt for those who tend to be faith-based in their thinking.

House Republicans, supply-side voodoo economic hats screwed down tight, are once again playing make-believe wishing games with the economic future of Americans. Still wishing for those unicorn ponies to show up so's they can show those mean socialists in the DemoCRAT Party a thing or two, by gum.

From The Hill........

House Republicans say they have no plans to pay for the extension of the Bush-era tax rates, a move that could erase the deficit reduction they have achieved since winning their majority in the chamber in 2010.

Because The Hill is a daily valentine-writing service for those who worship Republicans, they go on to explain the voodoo....

It is Republican Party orthodoxy that tax cuts do not need to be offset because of the additional tax receipts they spur through economic growth. And in interviews, even House Republicans who have broken with the party leadership on taxes told The Hill they do not believe the extension of the Bush-era rates needs to be paid for.

"tax cuts do not need to be offset because of the additional tax receipts they spur through economic growth." That's as concise a definition of the voodoo as I've seen. Here's the, I'm sure, deficit hawk, GOP Rep. Tom Reed of New York putting the voo and the doo together....

“It’s not a pay-for situation. It’s just strong policy that needs to be adopted."

There you have it. Don't pay any attention to the Congressional Budget Office's scoring of extending the Bush tax cuts over the next decade..... because the CBO says that extending those tax giveaways will add $2.4 trillion to the debt.

Rather than argue a case against the CBO scoring, you know, on the merits....Republicans argue that the problem lies with the CBO, itself. It seems that the CBO members have not been officially baptized into the rooster blood of the supply-side voodoo cult. As soon as CBO members join conservative voodooers in the....voodoo....then the CBO can score the extension of the Bush tax cuts properly....

Republicans lawmakers have long expressed frustration with that system and want the Congressional Budget Office and the Joint Committee on Taxation to score tax proposals more dynamically — that is, more fully take into account economic growth.

If CBO members would just put down their history books and calculators,....let go and let the Living Spirit of St. Ronnie work his wonderful way in their braincells....then the CBO would score the Bush tax cuts $2.4 trillion bloating of the national debt as a GAIN to the Treasury.

You may have noticed that WunderKind Paul Ryan and Monopoly Man Mitt use the phrase "pro-growth policies" quite often. Republicans, they say, have an economic plan to speed up our slow recovery....the recovery which, they say, has been stunted by President Obama's communist policies. The GOP plan is "pro-growth".....which is voodoo-speak for cutting taxes on the rich and powerful.

The obvious problem comes in when one recognizes that cutting taxes on the rich and powerful has never....and I mean never..... paid for themselves in new economic growth. The Reverend challenges any naysayers here to provide evidence to the contrary. Obama wasn't using hyperbole earlier this year when he stated that supply side economics has "never worked." It has never worked because it's.....like wishing in one hand and...well...you know.

The tax cuts of St. Ronnie did not result in higher tax revenues going into the Treasury than before the revenues were cut. They didn't. Bush Jr's double-dipping-for-the-rich, tax cuts proved out to be substantially worse for U.S. economic growth. If voodoo worked....surely the deepest tax cuts for the wealthy in my lifetime would have already ushered in a paradise of new jobs and so much tax revenue that our deficits and debt would already be paid off and we'd be mining moondust alongside Newt with all the excess bounty. Alas, it didn't happen.

Republicans and conservatives are not even trying to hide it anymore. These guys are going to run an entire general election campaign wishing for unicorns and hope voters are too ignorant or confused to notice.

I'm noticing. There are no unicorns.....and supply-side, "pro-growth", voodoo economics does not work and has NEVER worked. Republican "pro-growth" policies, i.e., more and more tax cuts and breaks for the already-rich and powerful, will solve...we promise....all our nation's fiscal and economic ills.....is what The Reverend calls wishful thinking.

In fact....not to rework a crude cliche too much....wishing on voodoo economics to solve our economic problems is akin to wishing in one hand and smearing the other full hand all over one's self.

 

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