You know how we can tell the GOP corporate tax scheme is a ruse? Too many so-called conservatives squawked when the few Republican deficit hawks still true to their core fiscal doctrine came up with a way to try to keep the tax cuts from adding another $1.4 trillion to the $20 trillion national debt.
A handful of senators, led by Bob Corker (R-TN), Jeff Flake (R-AZ) and James Lankford (R-OK), offered up a doomed “trigger” to prevent the tax cuts from increasing the national debt. Simply put, tax increases would be triggered if federal revenue fell short of a specified threshold as a result of the corporate tax cuts.
The Senate parliamentarian ruled out a trigger on procedural grounds, but it’s still worth asking the question why would anyone be opposed to a deficit-avoiding mechanism? The Republicans keep telling us their corporate tax plan is going to increase growth and jobs and will pay for itself. What’s the problem then? Could it be that maybe the Republicans aren’t telling us the truth and their tax plan is really a scam that is going to blow up the federal debt?
Opponents of the trigger, like the Koch brothers political machine, claim it’s a bad idea because a downturn in the economy could set off tax increases. But again, the Republicans insist their corporate tax cuts are supposed to be a glorious trickle down stimulus for the economy, so what’s the problem? We won’t have an economic downturn, right Republicans?
It gets worse, believe it or not. Turns out the tax cutters have many weak arguments. Republicans asked congressional budget analysts to create a deficit model with a magic process called “dynamic scoring” to analyze the effect of the tax cuts on the national debt. Even that optimistic ploy failed, and the best tax analysts could come up with is the national debt increasing by $1 trillion as a result of the tax cuts.
And that’s why Corker and the diminishing cast of deficit hawks know there must be a deficit trigger, or some other means to keep the corporate tax cuts from exploding the deficit.
As far as the GOP promises that their massive tax cuts for corporations and the wealthiest among us will make more money than they will cost, only in Washington could we have a balance sheet that contends cutting revenue will increase revenue.
The Democrats are steering clear of the GOP tax con primarily for one simple reason: it doesn’t include significant, permanent tax cuts for working- and middle-class Americans. In some cases it will lead to tax increases for those demographic groups. It’s pretty clear what the Republicans think of us, given that the majority of our 60 million Rural Americans are working- and middle-class.
–> Source: http://www.ruralvotes.com/thebackforty/?p=5761