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Wed Dec 17, 2014, 07:41 PM

How the GOP Plans to Rig Congress to Embrace Trickle-Down “Voodoo Economics” - Bill Moyers

http://billmoyers.com/2014/12/04/voodoo-econ/


Republicans are signaling that when they take control of the Senate in January, they’ll try to change the way a key government watchdog does math. If they get their way, it will effectively put a thumb on the scale of all future legislation.

The Congressional Budget Office (CBO) informs virtually all of our political debates. Made up of non-partisan career technocrats, the CBO’s most important function is to “score” proposed legislation, projecting how a bill would impact future budgets if it were passed. When the CBO concludes that a piece of legislation will increase future deficits, it provides a powerful argument against the measure. When they project that a proposal will shrink the government’s debt, it allows proponents to claim that it’s the “fiscally responsible” thing to do. Key findings from the CBO’s reports are eagerly consumed and broadly disseminated by politicians, pundits and political reporters.

A number of Republicans have called for the CBO to incorporate what US News & World Report calls a “gimmick” that would result in tax cuts magically paying for themselves in future CBO scores. In fact, it would likely result in the CBO claiming that even deep tax cuts for corporations and the wealthy would result in more revenues coming into the government’s coffers. We could have our cake and eat it, too!

The gimmick is called “dynamic scoring,” and is based on economic models that purport to show that tax cuts unleash so much new economic activity that ultimately, they result in more taxes being collected.
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“If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn't. And contrary wise, what is, it wouldn't be. And what it wouldn't be, it would. You see?”
Lewis Carroll, Alice's Adventures in Wonderland & Through the Looking-Glass

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Reply How the GOP Plans to Rig Congress to Embrace Trickle-Down “Voodoo Economics” - Bill Moyers (Original post)
Bill USA Dec 2014 OP
Wellstone ruled Dec 2014 #1
NoJusticeNoPeace Dec 2014 #2
Ruby the Liberal Dec 2014 #3
Bobcat Dec 2014 #4
nikto Dec 2014 #5
jmowreader Jan 2015 #6
Bill USA Jan 2015 #7
Jefferson23 Jan 2015 #8

Response to Bill USA (Original post)

Wed Dec 17, 2014, 07:46 PM

1. More of the Raygun

 

trickle down smoke and mirrors shit. Dynamic Scoring=f-----the workers and transfer wealth like the 80's. Oh well,no push back from our friends in the Media.

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Response to Bill USA (Original post)

Wed Dec 17, 2014, 07:47 PM

2. Again, republicans exist to cause human suffering, death and destruction...

When we all figure it out, when we all get it through our god damn thick skulls, we will all be better off.

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Response to Bill USA (Original post)

Wed Dec 17, 2014, 07:58 PM

3. Default scoring to say tax cuts increase revenue?



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Response to Bill USA (Original post)

Wed Dec 17, 2014, 08:21 PM

4. Deja Vu

1980's Laffer curve 2.0? That dog won't hunt!

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Response to Bill USA (Original post)

Thu Dec 18, 2014, 12:27 AM

5. Every loophole they can find...

 

To undermine America.

They are never satisfied.

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Response to Bill USA (Original post)

Fri Jan 2, 2015, 06:06 AM

6. Dynamic Scoring has two goals, and both are atrocities

The first, as you've guessed, is to sell the theory the Laffer Curve actually works.

The second is to pre-demonize the next Democratic president. Consider what happened when President Obama took office. One of the things Shrub Bush did to distort his numbers was to run his wars off-budget. That makes the numbers look better than they are; the only real problem with doing business that way is Section 802(a) of the Sarbanes-Oxley Act:

Whoever knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of any matter within the jurisdiction of any department or agency of the United States or any case filed under title 11, or in relation to or contemplation of any such matter or case, shall be fined under this title, imprisoned not more than 20 years, or both.


One of President Obama's first acts was to move the wars into the federal budget...which, as we all know, caused the deficit to skyrocket in his first year and fueled a LOT of Republican resentment against him. They would LOVE to do it again, and Dynamic Scoring, after the next Democratic president has to balloon the debt to pay it off, will do just that.

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Response to jmowreader (Reply #6)

Fri Jan 2, 2015, 06:14 PM

7. Right! Here's a good piece frm Daily KOS:"10 things about the debt the GOP don't want you to know"..

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Response to Bill USA (Original post)

Fri Jan 2, 2015, 07:42 PM

8. It's a gimmick alright and must be pushed back on...this is disgusting beyond words. n/t

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