Page 9 of 14 FirstFirst ... 7891011 ... LastLast
Results 81 to 90 of 132

Thread: GOP 2012 budget to make $4 trillion-plus in cuts

  1. #81
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by Mayor Snorkum View Post
    Interesting.

    Since when does a cut in revenue have to be paid for? Wouldn't "paying" for a cut in revenue itself be a revenuen and thus no net cut would exist?

    It's silly to claim a cut in expenses is paying for a cut in revenues, especially considering that today's budget problems are universally spending problems, not tax problems.
    Almost certainly, Deuce was referring to the fundamental income statement equation: Revenue - Expenses = Surplus/Deficit

    If one wants to cut Revenue by $X and have a $0 change in the Surplus/Deficit, one must either find additional revenue increases of $X, reduce expenses by $X or some combination of the two that amount to $X.

    In practice, the necessary offset would amount to something modestly less than the full $X, because some portion of the tax cut would lead to an increase in consumption, generating some extra tax revenue. However, the amount of tax revenue resulting from the increase in consumption would not come close to covering the full amount of foregone tax revenue, even when multipliers are considered.

  2. #82
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Today @ 05:49 PM
    Gender
    Lean
    Conservative
    Posts
    67,310

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by donsutherland1 View Post
    Almost certainly, Deuce was referring to the fundamental income statement equation: Revenue - Expenses = Surplus/Deficit

    If one wants to cut Revenue by $X and have a $0 change in the Surplus/Deficit, one must either find additional revenue increases of $X, reduce expenses by $X or some combination of the two that amount to $X.

    In practice, the necessary offset would amount to something modestly less than the full $X, because some portion of the tax cut would lead to an increase in consumption, generating some extra tax revenue. However, the amount of tax revenue resulting from the increase in consumption would not come close to covering the full amount of foregone tax revenue, even when multipliers are considered.
    A good question to ask, when the tax rates were cut to the rich did they pay more or less in income taxes and did govt. revenue go up or down? The answer will destroy the liberal argument that tax rate cuts actually cut income tax revenue. Ryan's budget is going to be attacked by those that don't understand the concept of growing revenue. It is pure mathematics to a liberal where if you cut taxes nothing else changes thus revenue drops. Liberals don't understand incentive and that affect on govt. revenue. Cutting the tax rates and elmininating loopholes will put U.S. Corporations in line with the world businesses and revenue will actually grow.

  3. #83
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    For those who are interested, Congressman Ryan's proposal can be found at: http://paulryan.house.gov/UploadedFi...rityFY2012.pdf

    P.S. I removed my point about a CBO score. Megaprogman provided info. that I had not seen. I look forward to reading it.
    Last edited by donsutherland1; 04-06-11 at 10:02 AM.

  4. #84
    Doesn't go below juicy
    tacomancer's Avatar
    Join Date
    Jan 2010
    Location
    Cleveland
    Last Seen
    05-20-16 @ 02:42 PM
    Gender
    Lean
    Other
    Posts
    31,781

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    The CBO just did some analysis on this proposal.

    It can be found here http://www.cbo.gov/ftpdocs/121xx/doc...yan_Letter.pdf

  5. #85
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Today @ 05:49 PM
    Gender
    Lean
    Conservative
    Posts
    67,310

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by megaprogman View Post
    The CBO just did some analysis on this proposal.

    It can be found here http://www.cbo.gov/ftpdocs/121xx/doc...yan_Letter.pdf
    Right, this is preliminary per the following:

    CBO has not reviewed legislative language for the proposal, so this analysis does not
    represent a cost estimate for legislation that might implement the proposal.

  6. #86
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by Conservative View Post
    A good question to ask, when the tax rates were cut to the rich did they pay more or less in income taxes and did govt. revenue go up or down? The answer will destroy the liberal argument that tax rate cuts actually cut income tax revenue. Ryan's budget is going to be attacked by those that don't understand the concept of growing revenue. It is pure mathematics to a liberal where if you cut taxes nothing else changes thus revenue drops. Liberals don't understand incentive and that affect on govt. revenue. Cutting the tax rates and elmininating loopholes will put U.S. Corporations in line with the world businesses and revenue will actually grow.
    A number of factors were at play. Elasticities differ e.g., there's more macroeconomic impact from reducing high marginal rates than low marginal rates. Moreover, aside from touching on immediate macroeconomic impact e.g., via the consumption channel, there is also an investment impact. If capital can be allocated more efficiently e.g., to higher return investments following a tax rate change, then those investments could yield long-term benefits that are also macroneconomically significant when those benefits are realized.

    Also, in terms of efficiency, the idea of eliminating loopholes in exchange for lower tax rates makes sense (reduced compliance costs, lower costs associated with dealing with errors, time savings, reduced macroeconomic distortions, etc.). In addition, a case for "fairness" can be made when one pursues the idea of eliminating preferential items in the tax code in exchange for lower tax rates that apply to all filers.

  7. #87
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by megaprogman View Post
    The CBO just did some analysis on this proposal.

    It can be found here http://www.cbo.gov/ftpdocs/121xx/doc...yan_Letter.pdf
    Thanks. I just got back from out of town and had not seen this initial analysis. I look forward to reading it.

  8. #88
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Today @ 05:49 PM
    Gender
    Lean
    Conservative
    Posts
    67,310

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by donsutherland1 View Post
    A number of factors were at play. Elasticities differ e.g., there's more macroeconomic impact from reducing high marginal rates than low marginal rates. Moreover, aside from touching on immediate macroeconomic impact e.g., via the consumption channel, there is also an investment impact. If capital can be allocated more efficiently e.g., to higher return investments following a tax rate change, then those investments could yield long-term benefits that are also macroneconomically significant when those benefits are realized.

    Also, in terms of efficiency, the idea of eliminating loopholes in exchange for lower tax rates makes sense (reduced compliance costs, lower costs associated with dealing with errors, time savings, reduced macroeconomic distortions, etc.). In addition, a case for "fairness" can be made when one pursues the idea of eliminating preferential items in the tax code in exchange for lower tax rates that apply to all filers.
    Exactly, lower rates does not mean less revenue collected and if liberals truly cared about govt. revenue they would care more about how much, not the rates

  9. #89
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 05:30 PM
    Gender
    Lean
    Conservative
    Posts
    57,148

    Re: US Republican budget plan would cut $5.8 trln in 10 yrs

    Quote Originally Posted by lpast View Post
    THey should cut the loopholes and leave the tax rate the same, at least till were out of debt.
    doing that would cause us to take longer to get out of debt, while not really increasing revenues. I know it's counterintuitive; but top tax rates really have little if any correlation with revenues - though they do with growth.



    Theres no mention of cutting subsidies
    actually it gets hundreds of billions in savings by cutting subsidies and special corporate loopholes.

    or saving billions by getting troops out of many countries they shouldnt be
    war is one of the things you spend on. either way, that's a foriegn policy debate.

    no mention of cutting billions in foriegn aid
    actually the current Republican proposal cuts foriegn aid. you may have noticed the Democrats demagouging them for wanting to kill foriegn children?

    no mention of punishing employers that hire illegals.
    no, there isn't. that's an immigration issue, not part of a budget.

    There is cuts to social security one of which is 750 billion cut to senior meals
    actually this budget proposal doesn't effect social security. you may be thinking of Medicare, which will see changes starting in 2022.

    ...theres others also. I doubt ryans plan as it stands will pass gop muster in the long run
    then shame on them, as well, for taking the easy path to bankruptcy.

  10. #90
    Doesn't go below juicy
    tacomancer's Avatar
    Join Date
    Jan 2010
    Location
    Cleveland
    Last Seen
    05-20-16 @ 02:42 PM
    Gender
    Lean
    Other
    Posts
    31,781

    Re: GOP 2012 budget to make $4 trillion-plus in cuts

    Quote Originally Posted by Conservative View Post
    Right, this is preliminary per the following:
    Yes, its not complete, but it does still provide analysis.

Page 9 of 14 FirstFirst ... 7891011 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •