In other words, the CBO and JCT are now required to be clairvoyant, which isn’t sound economic policy. The Republicans are saying that they are simply requiring more information be included in the analyses. What they are failing to say is that the information is highly speculative and not based on known factors. Democrats, including the White House, have said that this is just another way to push through additional tax cuts for the ultra wealthy. This point is supported by an analysis from the Center on Budget and Policy Priorities, which says the new rule will not only provide less information, but allow Republicans to hide tax cuts which could swell the deficit. This is much like how the Bush era tax cuts wiped out the surplus from the 1990s, creating a huge deficit, which led to the Great Recession and a period of unprecedented income inequality. Read more: care2/causes/house-gops-new-rule-allows-republicans-to-hide-tax-cuts.html#ixzz3OFgVitvg
Posted on: Thu, 08 Jan 2015 17:28:06 +0000
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