Political Wrinkles  

Go Back   Political Wrinkles > General Forum > Open Discussion
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

Open Discussion Discuss Analysis: Cruz tax plan would benefit rich, explode deficit at the General Forum; What's new. The right always explodes the debt. WASHINGTON — A new analysis of Republican presidential candidate Ted Cruz’s tax ...

Reply
 
Share LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 02-17-2016, 12:48 AM
Banned
 
Join Date: Oct 2007
Location: PNW
Gender: Male
Posts: 70,513
Thanks: 22,404
Thanked 18,921 Times in 13,936 Posts
Default Analysis: Cruz tax plan would benefit rich, explode deficit

What's new. The right always explodes the debt.


WASHINGTON — A new analysis of Republican presidential candidate Ted Cruz’s tax plan concluded that it would add trillions to the federal deficient while providing huge tax cuts to the nation’s wealthiest earners.

The analysis issued Tuesday by the nonpartisan Tax Policy Center found Cruz’s plan would cost $8.6 trillion over in the first 10 years, not including interest on the national debt.

Center director Len Burman said about two-thirds of all federal discretionary spending would have to be cut to balance the budget if Cruz’s tax plan were enacted. Not even eliminating every dollar spent on national defense, the biggest pool of money in the federal budget, would be enough, he said.

“In Senator Cruz’s defense, I have no doubt he really wants to slash spending,” Burman said. “But these are really big tax cuts ... that would require really big spending cuts to Social Security, Medicare, defense and all the other big things we spend money on.”

The scale of the cuts that would be required to balance Cruz’s budget would likely be political unpalatable to members Congress of both parties, he added.

Meanwhile, under Cruz’s plan, the top 0.1 percent of income earners would see their tax burden reduced 23 percent. Middle-income households would receive an average 2.4 percent tax cut, while the lowest earners would actually see their payments increase by about 1 percent, according to the analysis.

The Tax Policy Center is a joint project of the centrist Brookings Institute and left-leaning Urban Institute.
https://www.washingtonpost.com/polit...231_story.html
Reply With Quote
  #2 (permalink)  
Old 02-17-2016, 02:41 AM
saltwn's Avatar
PW Enlightenment
 
Join Date: Oct 2007
Location: Esto perpetua
Posts: 81,838
Thanks: 55,605
Thanked 26,347 Times in 18,865 Posts
Send a message via AIM to saltwn Send a message via MSN to saltwn Send a message via Yahoo to saltwn
Default Re: Analysis: Cruz tax plan would benefit rich, explode deficit

why am I not surprised...

I am not going to waste my time reading any of their plans. I hear their speeches and except for Kasich it's gung ho war and lower taxes for the rich which means the corps will have more power and take more from the middle class and the poor.
A factory in I think Wisconsin, just gave pink slips to 1500 workers announcing they are moving to Mexico. This is after record breaking profit for the company and of course big bonuses for CEOs. If I had been one of those workers I think I would have thrown some furniture.
__________________
"In the depth of winter, I finally learned that there was in me an invincible summer."
- Albert Camus
Reply With Quote
Reply

Tags
analysis, benefit, cruz, deficit, explode, plan, rich, tax, would

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 11:42 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2020, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0