Posted by Tina
Republican gains in the House and Senate will result in changes whether or not President obama has a phone and a pen. According to Joseph Lawler of the Washington Examiner, the Republicans plan to “…mandate that Congress’ official budget scorekeepers consider the economic growth generated by tax cuts in their official analyses ”
Democrats claim that letting the American people know how tax law impacts our economic growth is a bad thing. I’m not surprised since deception and witholding accurate information is how radical democrat radicals have pushed their big government, diminished-middle-class agenda for years. As we have seen under the extreme progressive leadership of Obama, Pelosi, and Reid, when Democrats rule over the people the rich get megga-wealthy (1%) while the middle class is decimated and the numbers joining the ranks of the needy increase.
“According to Joseph Lawler of the Washington Examiner, the Republicans plan to “…mandate that Congress’ official budget scorekeepers consider the economic growth generated by tax cuts in their official analyses ””
Of course, both the Congressional Budget Office and the Congressional Research Service have done extensive analyses on the economic growth generated by tax cuts.
They couldn’t find any.
http://www.nytimes.com/2012/11/02/business/questions-raised-on-withdrawal-of-congressional-research-services-report-on-tax-rates.html
http://news.firedoglake.com/2012/11/08/cbo-joins-crs-in-finding-almost-no-economic-impact-from-letting-high-end-bush-era-tax-rates-expire/
“Democrats claim that letting the American people know how tax law impacts our economic growth is a bad thing.”
Not true. On the contrary, it was Republicans who tried to suppress the CRS study because they didn’t like the results.
Kudos to the NYT for actually featuring a balanced article. I guess the new owners have taken complaints about progressive bias seriously. I do wonder if Chris read the article that features a “nonpartisan” report that includes words and phrases that are definitely partisan and biased:
The report was pulled for obvious legitimate reasons.
If an assertion is made you can be sure someone will come out with a study to debunk it (politically).
The left has been trying to kill supply side economics at least since the 1980’s when the supply side policies of Ronald Reagan spurred incredible growth that rescued AMERICA from the malaise of the Jimmy Carter years.
Our readers can find many liberal opinions on the web since the study referenced in the NYT was published with headlines claiming tax cuts do not lead to economic growth. Recorded history tells a different story.
Those interested in becoming fully educated and informed will appreciate analysis that offers hope of real relief from the miserable economy of last six years. Remember, the recovery occurred in Spring 2009 and all of the low growth and loss of opportunity since then has been a result of progressive policies, including added taxes, high uncompetitive tax rates on corporations, and massive new (costly) regulation:
a preview of George Gilder’s – Knowledge and Power, The Information Theory of Capitalism and How It is Revolutionizing Our World, rebuts the above mentioned report (scroll down to PG 21- you might have to buy the book :-)).
AEI-“Let’s Not Forget the Decade the Liberals Love to Hate, The 1960s and President Kennedy’s successful, supply-side tax cuts”
Reform Taxes to Spur Economic Growth, Heritage
Maine’s Biennial
Budget: Tax Cuts to Spur Job Growth and a follow up report.
Republican governors all across America have improved their states economic status through policies including tax cuts. Republican Governors Discuss Economic Growth and Education, The Aspen Institute:
Republicans and Democrats have seen supply side economic work and Republican governors are once again demonstrating better results in their states than those states that agree with the big government progressive high tax model.
It’s a very good idea to have the CBO include in their analysis of congressional budgets and policy how tax cuts effect economic growth, the people have a right to know.
Good for you for actually addressing the methodology of a study! I’m genuinely proud.
I’ll have to look into whether the study fails to take lag into account. I disagree that “Bush tax cuts” and “tax cuts for the rich” are politically charged terms, though.
I think it’s significant that the CBO has come to the same conclusions as the CRS:
http://news.firedoglake.com/2012/11/08/cbo-joins-crs-in-finding-almost-no-economic-impact-from-letting-high-end-bush-era-tax-rates-expire/
But again I appreciate that you addressed the methodology of the study and I think some of your critiques are worth looking into.
I hope you will look into lag time since the real world affect of lowering taxes takes time to develop. The CBO can only score and form opinion with the terms given them. One year doesn’t work. Simple common sense tells us it takes time for businesses to put things in motion, begin to fill new orders, develop and build a new business…and for people to begin to spend the extra dollars they suddenly find at their disposal. Business builds on business and over time things are humming along., its wonderful to see.
Scroll down at the link to Dr. J. D. Foster for his take on the Clinton/Gingrich tax package:
That’s $28 billion helping the middle class expand and create business, from people that can afford to take the risk, and not a dime is needed from the taxpayer.
The Reagan years are also instructive.
I appreciate your new tone and thank you for making the effort.