A Message for GOP Senators Undecided on Tax Bill
I read with great hope that the junior senator from Kansas has learned from the Kansan tax cut disaster and will, maybe, possibly, have enough courage to vote against the horrible Republican tax cut for our Donors bill. I have a message for Republicans who know better, but are afraid of breaking with the president and majority leader.
No way to up vote you at AB; but, I am sure the Repubs in the Senate would understand “Get a Spine “Morans.”
If the Republicans actually expect lower taxes to lead to higher revenue, how come they never promise what they plan to do with all that extra money: expand programs, lower taxes even more? We know it’s not the first with Republicans — do they have a “crossover point” in mind for the second at which lower tax level they expect lower taxes to begin to lead to lower revenues?
Be interesting to inquire them about that point, loudly and in public. :-)–
What will really happen of course is that revenues will lower — at which point the Republicans can be expected to scream bloody about the deficit and the need to cut back programs that assist lower income people — instead of raising taxes back up to where they were in the first place on better off people. And then they can initiate the sham-cycle over (and over) again as many times as they can get away for it.
Be interesting to interrogate the Republican party loudly and in public about what their response to lower tax revenue will be “if” that (truly likely) eventuality should happen. :-O
Actually, in the most recent incarnation of this nonsense, GW did tell us what he was going to do with the extra tax revenue that was going to come from his tax cut. He was going to pay down the debt. Substantially all of the debt (leaving out some expensive to buy back bonds held) was going to be gone by 2011 or so. Having them plan out what they’r going to do with fantasy land revenues and a fantasyland economic boom doesn’t make the final outcome any better.
See Barry Ritholtz [and Wall Street Journal] do in Republican tax cuts:
Remember how Greenspan testified to Congress that we needed the deficit so bond traders would have something to trade. Eliminating the deficit would be terrible for wall street employment.