GOP tax plan: Hardly “reform,” but tax cuts “cost” nothing

Source: Garrison Center
by Thomas L Knapp

“I’m all for tax cuts and not terribly particular about where they fall. But let’s be honest: Cutting the corporate and top rates isn’t about sound economics, it’s about whose lobbyists buy the most expensive lunches for, and who contributes most reliably to the campaigns of, which politicians. Of course, the main criticism coming from opponents of tax cuts as such is that those cuts would ‘cost’ the US government something. The New York Times claims (drawing on an analysis by the Tax Policy Center) that ‘the corporate tax cuts will cost nearly $7 trillion over the next two decades …. the entire package is expected to cost an estimated $5.6 trillion over the next 20 years.’ Well, no. The total ‘cost’ of the proposed tax cuts would be a whopping zero dollars and zero cents.” (10/03/17)