Everybody – Except Speaker Ryan – Knows Tax Cuts Don’t Pay for Themselves
SPEAKER RYAN THIS AM: ‘Nobody knows’ if the GOP tax scam’s tax cuts will produce enough economic growth to pay for itself.
Speaker Ryan, let us help: Everybody knows tax cuts for the wealthy do not pay for themselves, and the GOP tax scam is a monumental theft from the middle class to enrich the wealthiest 1 percent that will blow a hole in the deficit.
Former GOP Economist Bruce Bartlett: I helped create the GOP tax myth … Tax cuts don’t equal growth.
Committee for a Responsible Federal Budget: Tax cuts don’t pay for themselves.
Congressional Budget Office: GOP tax bill would add $1.4 trillion to the deficit over the next decade.
Joint Committee on Taxation: GOP tax bill would fall $1 trillion short of paying for itself.
Tax Policy Center: GOP tax bill would add $1.23 trillion to the federal deficit over 10 years.
The Tax Foundation: GOP tax bill would add $448 billion to federal deficits over 10 years with economic growth factored in.
The Wharton School of Business: GOP tax bill increases federal debt in both the short- and long-run relative to current policy.
Treasury Department Economist: Treasury had not released a “dynamic” analysis showing that the tax plan would be paid for with economic growth because one did not exist.