Raising taxes always increases the deficit (Reagan, Pelosi, Clinton, Kennedy)
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No, but I like to use CBO's numbers and they are smart enough to not dismiss revenues in their calculations... unlike you. C'mon, share with us on how you calculate deficits without worrying about revenues...
The CBO is responsible to keep the COSTS
CBO's cost estimates have become an integral part of the legislative process, and committees increasingly refer to them at every stage of drafting bills. CBO must provide an estimate of those costs (if feasible) and the basis of the estimate.
and since you dont seem to know the definition of cost cost: the amount or equivalent paid or charged for something cost: the outlay or expenditure
COST IS AN EXPENSE, its SPENDING. And now that you admit you like the CBO numbers, (even if they are manipluated), I have to wonder why you are even arguing with me, considering the CBO says I'm correct.
To reduce the defecit, you must endeavor to, and actually cut, spending. If you raise tax rates, you get less revenue (you always get less of something you tax, and if you increase taxes on economic activity, you get less economic activity and less revenue.
Then tax revenue should have increased through out the 2000s, and yet, we are at a point where 2010 tax receipt was lower than it was in 2000. Tax revenue should have declined since tax rates were increased in the 1990s, and yet we have evidence to the contrary. The economy boomed, while all that we've seen following major tax cuts is... credit bubble (1920s, 1980s, 2000s). Coincidence?
The CBO is responsible to keep the COSTS, again why do you think you are smarter than the CBO?
CBO's cost estimates have become an integral part of the legislative process, and committees increasingly refer to them at every stage of drafting bills.
and since you dont seem to know the definition of cost cost: the amount or equivalent paid or charged for something
COST IS AN EXPENSE.. And now that you admit you like the CBO numbers, (even if they are manipluated), I have to wonder why you are even arguing with me, considering the CBO says I'm correct.
Please don't explain something not asked for, but provide what you've been asked for. It is no secret that CBO uses revenue as well as spending to arrive at its conclusions. In your world, however, it is all about deficit, nothing to do with revenues. Hence I ask again... how do you calculate deficits? Or, is spending = deficit?
Well, I can give you Canada's experience from the 90s, when it almost tipped into bankruptcy. Taxes were raised, spending was trimmed (but not by huge amounts), and eventually, there was a decade of surpluses. From those surpluses, the total debt was lowered, spending was gradually increased, and taxes were cut. Liberal government did that, BTW.
Then comes Conservative moron Steven Harper. Just like Bush in the USA, he decided to cut taxes and increase spending. Deficit ballooned.
Moral of the story is this: I don't know what kind of fantasy land you're living in, OP. I find that Republican "true believers" are so used to playing fast and loose with facts that they have no semblance to facts anymore.
Here's a FACT for you: revoking the Bush tax cuts will do more to close the budget gap than slashing spending will. Because honestly, it's not possible to slash spending that much without a backlash.
Please don't explain something not asked for, but provide what you've been asked for. It is no secret that CBO uses revenue as well as spending to arrive at its conclusions. In your world, however, it is all about deficit, nothing to do with revenues. Hence I ask again... how do you calculate deficits? Or, is spending = deficit?
Thats right.. only YOU get to determine what others post here.. Wow, what power you must have to stop me..
It must suck that you cant, and that I can continue to post that even the CBO Director says your wrong.
In short, integrating dynamic scoring into cost estimates would pose intractable problems.
In fact the Deficit Control Act specifically says revenues must be calculated as if CURRENT law doesnt change. The ONLY thing they can compute is SPENDING changes.
For revenues and mandatory spending, section 257(b) of the Deficit Control Act requires that the baseline be projected on the assumption that current laws continue without change.
What you are suggesting takes place, is AGAINST THE LAW..
Let me think, who should I believe.. the Director of the CBO, who's statement comply with the law, or some anonymous poster who says they are wrong
Thats right.. only YOU get to determine what others post here.. Wow, what power you must have to stop me..
It must suck that you cant, and that I can continue to post that even the CBO Director says your wrong.
In short, integrating dynamic scoring into cost estimates would pose intractable problems.
In fact the Deficit Control Act specifically says revenues must be calculated as if CURRENT law doesnt change. The ONLY thing they can compute is SPENDING changes.
For revenues and mandatory spending, section 257(b) of the Deficit Control Act requires that the baseline be projected on the assumption that current laws continue without change.
What you are suggesting takes place, is AGAINST THE LAW..
Let me think, who should I believe.. the Director of the CBO, the law, or some anonymous poster
Now I must ask, do you know how deficits are calculated? For example, if CBO claims that federal deficit will total $7 Trillion over next decade, they actually use both spending and revenue to arrive at such conclusions? Yes they do. This article just might serve as a primer for you to get started:
Now I must ask, do you know how deficits are calculated? For example, if CBO claims that federal deficit will total $7 Trillion over next decade, they actually use both spending and revenue to arrive at such conclusions? Yes they do. This article just might serve as a primer for you to get started:
We are discussing calculating CHANGED deficits under changing the laws.. Thanks for playing..
It doesn't matter. To calculate ANY deficit you need appropriate combination of REVENUE and EXPENSE. But, that itself would be quite a departure from your claim that revenue doesn't matter.
It doesn't matter. To calculate ANY deficit you need appropriate combination of REVENUE and EXPENSE. But, that itself would be quite a departure from your claim that revenue doesn't matter.
deficits are BORROWED, and borrowed money is NOT revenue.
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