Tag Archives: Table

BREAKING: Trump Budget Numbers Make No Sense

Mother Jones

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Jon Chait says the Trump White House has made a $2 trillion mistake:

Trump has promised to enact “the biggest tax cut in history.” Trump’s administration has insisted, however, that the largest tax cut in history will not reduce revenue, because it will unleash growth….But then the budget assumes $2 trillion in higher revenue from growth in order to achieve balance after ten years. So the $2 trillion from higher growth is a double-count. It pays for the Trump cuts, and then it pays again for balancing the budget.

It’s true that the budget summary document includes a line item called “Effect of economic feedback” (in Table S-2) that comes to $2.062 trillion over ten years. Is that the same as the economic feedback that will pay for tax cuts? Who knows, really. It’s all just made-up nonsense anyway. But here’s an interesting thing. In the detailed projections, the Trump budget projects lower tax revenue than the final Obama budget:

What’s up with that? Does the Trump budget not include any economic feedback after all? But even if it doesn’t, why is their projection lower than Obama’s? Is it so they can use this lower number as a new baseline for comparison when they unveil their growth-exploding tax plan later in the year?

I know, I know: who cares? The Trump numbers are just random gibberish plucked from the sky. Still, you’d think they could at least make them agree from one spreadsheet to the next. Where’s the economic feedback in the tax revenue numbers?

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BREAKING: Trump Budget Numbers Make No Sense

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TPC Report: Paul Ryan’s Tax Plan Gives 100% of Its Benefits to the Top 1%

Mother Jones

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File this one under “too good to check.” Max Ehrenfreund passes along the latest analysis of Paul Ryan’s tax proposal from the Tax Policy Center and notes that by 2025 it gets a wee bit lopsided:

This is like a parody of Republican tax proposals. In its first year, the top 1 percent start off getting a mere 76 percent of the benefit. But as Table 5 shows, within ten years they get nearly 100 percent of the benefit. Ryan and the congressional Republicans manage this by giving the poor and middle class nothing and actually taking money away from the upper middle class. The only people who benefit are the rich and the really rich.

As for the really, really rich, the top 0.1 percent get an average tax break of $1.4 million, while the rest of us get about $3 trillion in extra federal debt and no long-term change in economic growth. What a deal.

POSTSCRIPT: I should note that for some reason TPC’s numbers don’t add up to 100 percent. This might mean there’s an error in the table. But even if there is, it’s a small one.

Originally posted here:

TPC Report: Paul Ryan’s Tax Plan Gives 100% of Its Benefits to the Top 1%

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Honeywell Econoswitch RPLS740B 7-Day Solar Time Table Programmable Switch for Lights and Motors

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24 Inch Table Top Plant Light – Seed Starting Supplies

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54-Inch Table Top Plant Light – Seed Starting Supplies

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