Seator. Bernie Sanders blasted an idea from Paul Ryan
and other House repugicans that would justify their tax cuts for the
wealthy by cooking the books and rigging how costs are counted in
legislation.
Paul Ryan (r-WI) has been working behind the scenes for months to
try to change the way the Congressional Budget Office calculates the
cost of legislation. Specifically, Ryan wants to force the CBO to use a
discredited scoring method that will hide the real cost of tax cuts for
the wealthy and corporations.
Senator Sanders blasted the repugican plan to cook the books,
The repugicans have hatched a plan to force the
CBO to cook the books and paint a rosy picture of the benefits of
trickle-down economics. They call it ‘dynamic scoring.’ In fact, it’s a
gimmick to help justify more tax cuts for the wealthy and profitable
corporations. It’s what the shrub's daddy called voodoo economics
– and he was right.
The purpose of dynamic scoring is to conceal – not reveal – how repugican policies will affect the economy.
The basic problem with what the right-wing
economists call “dynamic scoring” is that it requires the CBO to count
hypothetical growth as additional revenue. “That means counting the
chickens before they hatch.
The senator said the main reason repugicans want to
change the budget rule is to disguise the impact of their plan to give
more tax breaks to the wealthy and large corporations. In fact, part of
the reason the deficit is smaller today is that Congress in 2012 finally
let tax cuts expire for the top 1 percent.
What history shows is that when you give tax breaks
to the rich and large corporations, the rich get richer, corporate
profits climb and the federal deficit soars. In these difficult times,
we need realistic economic projections, not discredited theories, not
voodoo economics.
The repugicans are politicizing the budget
process in a way that will undermine the credibility of the
Congressional Budget Office and the Joint Committee on Taxation, which
have provided unbiased, nonpartisan analysis on the cost of tax and
spending bills.
The repugicans are refusing to face the reality that
tax cuts for the wealthy don’t grow the economy. Instead, they are
trying to rewrite the rules in order to hide their policy failures. Sen.
Sanders (I-VT) is not about to let repugicans cover up their gifts to
corporations and the wealthy without a fight.
Voodoo economics is back, but this time Democrats and Bernie Sanders won’t let the American people get fooled again.
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