Kathianne
10-03-2017, 10:26 AM
As long as they're growing in a way that those ruling in DC currently like:
https://hotair.com/archives/2017/10/03/mulvaney-youre-darned-right-need-new-deficits/
Mulvaney: You’re Darned Right We Need “New Deficits”ED MORRISSEYPosted at 10:01 am on October 3, 2017
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The White House is showing “softness” on ending a $1.3 trillion federal tax deduction filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP’s “intestinal fortitude” and could imperil a tax overhaul.
The framework that President Donald Trump and Republican leaders released Wednesday calls for deep rate cuts and would abolish existing tax breaks to help pay for them. Without such “pay-fors,” Congress might have to settle for only temporary tax cuts. …
White House Budget Director Mick Mulvaney is signaling similar flexibility, saying on CNN Sunday that decisions about deductions remain up in the air as “the bill is not finished yet.” He took it a step further, by adding that a tax plan that doesn’t add to the deficit won’t spur growth.
“I’ve been very candid about this. We need to have new deficits because of that. We need to have the growth,” Mulvaney said. “If we simply look at this as being deficit-neutral, you’re never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth.”
As Richard Nixon reportedly once said, “We’re all Keynesians now.” This was the same logic that went into Barack Obama’s stimulus spending, some of which came in the form of targeted tax breaks, and none of which produced lasting growth (or arguably any growth). It’s a favorite argument for the Perpetual Keynesians, a position that even Keynes himself didn’t favor.
https://hotair.com/archives/2017/10/03/mulvaney-youre-darned-right-need-new-deficits/
Mulvaney: You’re Darned Right We Need “New Deficits”ED MORRISSEYPosted at 10:01 am on October 3, 2017
...
The White House is showing “softness” on ending a $1.3 trillion federal tax deduction filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP’s “intestinal fortitude” and could imperil a tax overhaul.
The framework that President Donald Trump and Republican leaders released Wednesday calls for deep rate cuts and would abolish existing tax breaks to help pay for them. Without such “pay-fors,” Congress might have to settle for only temporary tax cuts. …
White House Budget Director Mick Mulvaney is signaling similar flexibility, saying on CNN Sunday that decisions about deductions remain up in the air as “the bill is not finished yet.” He took it a step further, by adding that a tax plan that doesn’t add to the deficit won’t spur growth.
“I’ve been very candid about this. We need to have new deficits because of that. We need to have the growth,” Mulvaney said. “If we simply look at this as being deficit-neutral, you’re never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth.”
As Richard Nixon reportedly once said, “We’re all Keynesians now.” This was the same logic that went into Barack Obama’s stimulus spending, some of which came in the form of targeted tax breaks, and none of which produced lasting growth (or arguably any growth). It’s a favorite argument for the Perpetual Keynesians, a position that even Keynes himself didn’t favor.