GOP presidential candidates' tax proposals would cause national debt to balloon

[Silcc69]

The economic proposals put forth by Republican presidential candidates Mitt Romney, Newt Gingrich and Rick Santorum would cause the national debt to swell.
Republican presidential candidate Ron Paul was the only candidate whose proposals would lower the national debt, according to a report released Friday.
The U.S. Budget Watch, a project of the non-partisan Committee for a Responsible Federal Budget, analyzed the impact the proposals made by the four candidates would have on the national debt through 2021.
The report breaks down how each part of the candidates' proposals would affect the national debt.
An analysis of President Barack Obama's proposals for the next term was not included in the report released Friday and the committee plans to release results of the same analysis of Obama's proposals at a later date.
The committee analyzed three scenarios for each candidate's proposals -- an optimistic low-debt scenario, an intermediate-debt scenario and a pessimistic deep-debt scenario.
Paul's proposals to reduce spending, cut taxes and change the size of the government would decrease the deficit by $2.2 trillion over the next 10 years. The committee estimates that Paul's proposals would cause the national debt to decrease to 76 percent of the GDP by 2021. In the low-debt scenario, which considers if Paul could follow through on canceling all of the federal debt held by the Federal Reserve System, Paul's proposals would cut the deficit by $4.3 trillion. A total of $1.9 trillion would be cut in the deep-debt scenario, according to the report.
Gingrich has proposed to cut both spending and taxes, which would increase deficits by $2.8 trillion on the optimistic side and $9.7 trillion on the pessimistic side. The middle scenario would increase deficits by $7 trillion and would cause the debt to balloon to 114 percent of the GDP by 2021, according to the report.
Proposals made by Santorum to decrease spending and taxes would cause the national debt to swell by $4.5 trillion by 2021 and would cause the national debt to be 104 percent of the GDP in 2021, according to the report. Optimistically, his proposals would reduce the deficit by $2.6 trillion, and pessimistically, would add $5.3 trillion to the debt.
Romney's proposals would add to the deficit, but not as greatly as Gingrich and Santorum. Romney's proposal to cut spending and taxes would add $250 billion to the national debt over the next decade in the intermediate-debt scenario and the debt would be 86 percent of the GDP in 2021. The low-debt scenario would reduce it by $2.2 trillion and the deep-debt scenario would add $2.2 trillion to the debt, according to the report.
The national debt now is $15.4 trillion and is 101 percent of the GDP.
The Committee for a Responsible Federal Budget is comprised of former staff of the Congressional Budget Committees, the Congressional Budget Office, the Office of Management and Budget and the Federal Reserve Board.

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[Ben]

Time we [or politicians -- ] started being attentive to Warren Buffett. I mean, if we -- or politicians -- continue to lower taxes on the super rich and the corporate sector, um, where's the revenue going to come from?
Plus we, or politicians, have to address neoliberal principles. Meaning the free movement of capital and the free import of goods. Which harms 99 percent of the American people.
Great for Buffett and, well, 0.01 percent of the populace.
So, again, neoliberal policies -- really since Clinton -- have harmed America and the American people.

[Ben]

An addendum --
When you offshore your economy, well, you offshore your GNP -- and also your TAX BASE. Great, eh? ha ha!

[onmyknees]

An addendum --
When you offshore your economy, well, you offshore your GNP -- and also your TAX BASE. Great, eh? ha ha!

Fuck Warren Buffet. I'm tired of seeing and hearing him. Ben...did you hear the one about Buffet apologizing to Berkshire Hatoway stockholders for his miserable misreading of the housing market? You listen to him all you like.

[onmyknees]

The economic proposals put forth by Republican presidential candidates Mitt Romney, Newt Gingrich and Rick Santorum would cause the national debt to swell.
Republican presidential candidate Ron Paul was the only candidate whose proposals would lower the national debt, according to a report released Friday.
The U.S. Budget Watch, a project of the non-partisan Committee for a Responsible Federal Budget, analyzed the impact the proposals made by the four candidates would have on the national debt through 2021.
The report breaks down how each part of the candidates' proposals would affect the national debt.
An analysis of President Barack Obama's proposals for the next term was not included in the report released Friday and the committee plans to release results of the same analysis of Obama's proposals at a later date.
The committee analyzed three scenarios for each candidate's proposals -- an optimistic low-debt scenario, an intermediate-debt scenario and a pessimistic deep-debt scenario.
Paul's proposals to reduce spending, cut taxes and change the size of the government would decrease the deficit by $2.2 trillion over the next 10 years. The committee estimates that Paul's proposals would cause the national debt to decrease to 76 percent of the GDP by 2021. In the low-debt scenario, which considers if Paul could follow through on canceling all of the federal debt held by the Federal Reserve System, Paul's proposals would cut the deficit by $4.3 trillion. A total of $1.9 trillion would be cut in the deep-debt scenario, according to the report.
Gingrich has proposed to cut both spending and taxes, which would increase deficits by $2.8 trillion on the optimistic side and $9.7 trillion on the pessimistic side. The middle scenario would increase deficits by $7 trillion and would cause the debt to balloon to 114 percent of the GDP by 2021, according to the report.
Proposals made by Santorum to decrease spending and taxes would cause the national debt to swell by $4.5 trillion by 2021 and would cause the national debt to be 104 percent of the GDP in 2021, according to the report. Optimistically, his proposals would reduce the deficit by $2.6 trillion, and pessimistically, would add $5.3 trillion to the debt.
Romney's proposals would add to the deficit, but not as greatly as Gingrich and Santorum. Romney's proposal to cut spending and taxes would add $250 billion to the national debt over the next decade in the intermediate-debt scenario and the debt would be 86 percent of the GDP in 2021. The low-debt scenario would reduce it by $2.2 trillion and the deep-debt scenario would add $2.2 trillion to the debt, according to the report.
The national debt now is $15.4 trillion and is 101 percent of the GDP.
The Committee for a Responsible Federal Budget is comprised of former staff of the Congressional Budget Committees, the Congressional Budget Office, the Office of Management and Budget and the Federal Reserve Board.

http://mobile.masslive.com/advmassli...l=true#display

Wait....stop the presses. Your guy piled on more debt in 3 years than Bush did in 8 and you're suddenly you're an economic whiz concerned about Federal spending? Maybe you didn't hear Geitner testify before Congress recently about Obama's budget....and this is a direct quote........."we have no plan....we just don't like yours"....when speaking to Paul Ryan. And here you are picking apart the Republicans economic plans....something wrong with this picture. Did you see the chart that shows the out years of the Obama budget? It resembles a cruise missile headed for the heavens !! LMAO. You're a little late to the deficit party....aren't you? What does your non partisan group say about the Obama budgets the last 3 years ? Oh damn...the study didn't include that. LMAO....When they do get to it...could you please update us? Or you can broaden your horizons and listen to an different view. Try it. Be Brave.


http://kudlowsmoneypolitics.blogspot...rning-joe.html

[Gouki]

Ron Paul 2012 or Bust

[trish]

http://www.nytimes.com/2012/02/27/op...ls-europe.html

[thx1138]

The best solution is to stiff the Fed. (It created money out of thin air.) The downside is it could cause a run on the banks. But hey, you can't make an omelette without breaking a few eggs.

[hippifried]

The best solution is to stiff the Fed. (It created money out of thin air.) The downside is it could cause a run on the banks. But hey, you can't make an omelette without breaking a few eggs.

??????????????????
Stiff the Fed, how? All the banks create money out of thin air. The Fed just takes a piece of the profit. So, what, pray tell, are you talking about?

[Silcc69]

Wait....stop the presses. Your guy piled on more debt in 3 years than Bush did in 8 and you're suddenly you're an economic whiz concerned about Federal spending? Maybe you didn't hear Geitner testify before Congress recently about Obama's budget....and this is a direct quote........."we have no plan....we just don't like yours"....when speaking to Paul Ryan. And here you are picking apart the Republicans economic plans....something wrong with this picture. Did you see the chart that shows the out years of the Obama budget? It resembles a cruise missile headed for the heavens !! LMAO. You're a little late to the deficit party....aren't you? What does your non partisan group say about the Obama budgets the last 3 years ? Oh damn...the study didn't include that. LMAO....When they do get to it...could you please update us? Or you can broaden your horizons and listen to an different view. Try it. Be Brave.


http://kudlowsmoneypolitics.blogspot...rning-joe.html

Do you get tired of being wrong or hearing your nonsensical drivel you spew on here all the time?